Greasy, lacy, spread to a puddle
Warm butter is already liquid at minute zero, so spreading gets a head start that setting never closes. Butter is 16-18% water. Free that water early and the dough slackens before the oven can save it.
Think back to the butter when it met the sugar: if it was soft enough to shine, or melted and still warm, or browned and poured in liquid, this is your path. Browned butter is the classic trap: it has to cool back to solid before it behaves like butter again, and most recipes don't say so loudly enough.
“Followed the recipe as written, but the cookies spread way too much and were inedible. Perhaps the butter needs to be totally resolidified, but I did it as written, turning opaque and only firm at the edges.”
★ review · The Food Lab's Chocolate Chip Cookies
“I tried making these cookies and the flavor is amazing but my cookies came out flat. I saw some others had this happen too. I am wondering if not browning your butter all the way could cause this? … Could the excess water content cause a flat cookie?”
★★★★★ review · the best brown butter chocolate chip cookies you ll ever eat
The second check is the flour: short flour produces the same greasy puddle, because there isn't enough structure to hold the fat. A cup scooped straight from the bag and a cup spooned in and levelled are different quantities. The gap is big enough to decide the whole bake, and it is invisible afterwards. If you measured by volume, treat the flour as suspect number one.
“I will say that you should weigh your flour in grams. … If you sift the flour into a cup you will have the right amount but if you just dip the cup in the flour you will get too much. … I would suggest trying the recipe again weighing the flour if you did not get good results.”
★★★★★ review · Best Chocolate Chip Cookies
And when both checks pass and it still happens, the tell outranks the checklist. This baker weighed everything; the grease said butter:
“I followed the instructions to a T and … they did not turn out. I measured the flour and everything with my scale but the cookies flattened and were a bit greasy tbh.”
★★★★ review · the best brown butter chocolate chip cookies you ll ever eat
Put the bowl in the fridge while you read. Cold fat re-enters the race on better terms. Let the baking sheet cool completely between batches; a hot sheet melts the next tray's butter before the oven door even closes. Portion taller balls and don't press them down.
Butter cool to the touch: it should dent when pressed and never shine. If the recipe browns the butter, chill it until solid before it goes anywhere near the sugar. And weigh the flour.