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Tech Bro Icarus

The New York Times, 2023

Rock-bottom rates were the secret engine fueling $1 billion start-ups and virtual attempts to conquer the physical world. But in 2023, reality bites. Many other tech companies are also seeing their fortunes reverse and their dreams dim...One largely unacknowledged explanation: An unprecedented era of rock-bottom interest rates has abruptly ended. Money is no longer virtually free.

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