https://newsletter.pragmaticengineer.com/p/the-scoop-fast
This article discusses the warning signs one could see that Fast was going downhill, leading to shutdown of the company.
I learned that a hiring spree should not be taken as a vital sign that a company is growing fast. It is mainly the revenue and such numbers one should look at.
For smaller companies we should look at burn rate and runway as well.
History of the management team is also a huge indicator of how a company is going to perform.