As interest rates rise, startups and VCs are playing a new game

The era of free money is now officially behind us: The United States Federal Reserve raised a key interest rate benchmark by 0.50%, or 50 basis points, this week.
Startups have long basked in the sun of effectively zero-cost money. As a result of a historic period of low rates, the comparative attractiveness of investing in bonds and other safer, if lower-yielding, assets was reduced, meaning investors around the world were looking for a place to park funds and have a shot at material incomes.
Technology did well during the period, with tech startups receiving an even larger shot in the arm. T

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