High interest rates are murder on a company needing capital.  There is a reason that Goldman Sachs quarter was terrible.  No IPOs.  Think about it when was the last time you heard about an IPO hitting the market. 

 

A year ago they were coming out several a day. Idiots were buying SPACS, money was cheap and was easy.  I was watching CNBC and I forget which talking head pointed out but he said only 1 SPAC out of all the SPACs that came to market last year made money.

 

The cost of capital is hard enough on a small company with little revenue even if it has the better mouse trap in hand.  When interest rates are high these companies have even less chance of success.