This reads like someone who think startups are structurally dependent on infinite VC money or loose spending due to low interest rates, perhaps because the writer's business is impacted. Nothing about rising interest rates prevents the formation of new businesses. Many great internet businesses were founded in 2008 (Airbnb, Uber, Whatsapp, etc). Let's not forget that businesses are supposed to make money, and it doesn't require that much capital to start a software business.r