I wonder if debt is "not available" simply because it's not the standard for SV. I would bet that companies like Slack, Stripe, Stitchfix, etc could have raised

I wonder if debt is "not available" simply because it's not the standard for SV. I would bet that companies like Slack, Stripe, Stitchfix, etc could have raised considerable amounts of debt instead of raising money through their last rounds. It's essentially a self-fulfilling prophecy.