[bluGill]

It is the economy. Interest rates are up and that will hit startups first since investors have other options that are more likely to be better.

[tonyedgecombe]

Interest rates hit their peak three years ago and have been falling since.

https://tradingeconomics.com/united-states/interest-rate

[bluGill]

They are still up compared to 5 years ago. We also seem to be in a recession (or if not a real recession at least a slow down)