It's more about that there's a cascading effect going on right now where your customers are scaling back because their customers are scaling back because their

It's more about that there's a cascading effect going on right now where your customers are scaling back because their customers are scaling back because their customers are scaling back, etc. So because of that, everyone is expecting a decline in growth that was planned for and hired for. Companies still do have lots of cash but they need to manage that cash with the expectation that they won't be able to raise cash as easily in the near/mid future. Valuations are cut because there's better places to put money now to get yield so when you do raise, you'll need to sell an even bigger piece of the company to get the funds you need.