Free money dried up. You can’t bankroll losses with loans at close to 0% interest and thus spending discipline has to happen. Stock and valuation took a big hit

Free money dried up. You can’t bankroll losses with loans at close to 0% interest and thus spending discipline has to happen. Stock and valuation took a big hit and it’s harder to raise or sell stock to offset loses. We will see a lot of gobbling up of small companies as the cash rich companies can shop for bargains over the next year or more.