Tech startups don’t talk much about interest rates. New products, customer acquisition and growth growth growth are top of mind. To the extent that today’s emerging companies consider the cost of capital, it’s usually while raising a venture round.
Over the next year, that’s likely to change. Now that the Federal Reserve has removed the word “patient” from its plan for hiking rates, businesses have to start preparing for the end of the free money era.
Are they ready?
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This article originally appeared on Recode.net.