In finance and investing, the value of something is computed using the net present value [1]. It's a, theoretically infinite, geometric series. Basically, all the future cash flows are accumulated today.<p>If the interest rate is high, cash flows in the future have almost zero value today. So future is not really important. If the interest rate gets close to zero, future cash flows become relevant.<p>As an investor, I'll focus more on currently profitable investments in a high-interest-rate scenario and more on possible future profits (a.k.a. growth) in a low interest environment. To me, this is what it means for tech startups and the industry.<p>The rest of the article sounds very much like conventional wisdom about interest rate from any econ 101 class.<p>What I miss a little bit in such economic discussions is that people don't base their explanations in terms of consumption of real goods. All the economic activity, after all, has the goal to provide some consumable value to people (in that sense listening to music is also consumption of a real good).<p>I think inflation has gone up because we had suddenly higher demand and it took some time to expand supply (e.g., production of computer chips). As the current supply is not enough for all demand, some individuals need to wait. Interest is their compensation for waiting.<p>That's why I think low, zero, or even negative interest rates will be the future as production of goods is surpassing meaningful consumption. In that sense, the current interest rates are an anomaly.<p>[1] <a href="https://en.wikipedia.org/wiki/Net_present_value" rel="nofollow">https://en.wikipedia.org/wiki/Net_present_value</a>