A distant cause is likely the changes in monetary policy (rate hikes). The tech sector has been structuring their capital as if borrowing would always be cheap, and they were unprepared for a sudden flight toward sustainable cash flow.
I think their only hope for "fuck you money" at this point is to cash out at IPO and watch it burn.
A distant cause is likely the changes in monetary policy (rate hikes). The tech sector has been structuring their capital as if borrowing would always be cheap, and they were unprepared for a sudden flight toward sustainable cash flow.
I think their only hope for "fuck you money" at this point is to cash out at IPO and watch it burn.