Yeah, investors are going to be even more inclined to identify exactly why the platform might be successful in the future. They’re not going to blindly throw money at new IPOs (as much) because debt isn’t free anymore.

Yep. Once capitalism completes the growth phase of the latest boom-bust cycle, companies start focusing on increasing revenue. Turns out when the economy starts declining people aren’t willing to spend money on random shit. People didn’t want to spend money on it during the boom, they’re even less likely to do so as their expenses go up and wages stay stagnate. A truly idiotic economic system.