Low interest rates created a preference for subscription models over up-front sales. It may have felt like the transition to cloud software and subscription pri

Low interest rates created a preference for subscription models over up-front sales. It may have felt like the transition to cloud software and subscription pricing was due to technology shifts or mobile phones, but it was probably driven by interest rates. If higher interest rates stay around for the long term, it's quite possible that tech going forward will be a little more like the '90s: An up-front sticker price, plus an extra charge for support. Ad funding (as a continuous revenue stream) may also get somewhat less powerful, but will still be a big deal.