However, when it comes to contracts with european companies, it has more to do with fundraising. Energy and even margins are not hitting game studios and SaS pr

However, when it comes to contracts with european companies, it has more to do with fundraising. Energy and even margins are not hitting game studios and SaS products, but it is harder to close funding rounds. Why? Because asset prices in europe are down hard, and the exiting holders are reluctant to accept dilution by taking adequate funding now. The new investors would get a better price than them and erode their share of the company excessively, so they'd rather push management to raise less, cut costs, and try to limp through to better times. The other side of this is that venture firms / PE had an amazing 2021, so now they have loads of cash and not many opportunities. They can hold off for a while but the money needs to be committed before this dip is realistically over.