alt Hacker NewsYears of low interest rates fueled by monetary manipulation created the free economy. This is no longer sustainable when creditors demands interest rates better aligned with historical norms.
I've always hated "free" because it sucks the oxygen away from good ideas and redirects money to people who have the connections to get zero risk loans (with no responsibility to pay the principal if things go bad).
I like that framing.
Over the past ~20 years we have benefited from VCs valuing growth and distant payoffs, in part because discount rates were low. Now investors have a preference for nearer term profitability (higher discount rates), thus prices are increasing.