in Tech in particular, the QE period (post-GFC through covid) with low interest rates has seen massive PE activity. most of the "highest multiple ever" or "high

in Tech in particular, the QE period (post-GFC through covid) with low interest rates has seen massive PE activity. most of the "highest multiple ever" or "highest premium ever" or "highest X" have all happened in this time span as the current rate hike cycle started, PEs were less willing to transact at higher rates, companies were less likely to transact at lower multiples and M&A markets cooled off I'm not out of the industry, but from the outside, it seems like most parties are in a holding pattern waiting for the soft/hard-landing that is yet to come. I suspect sellers are still holding their breaths for valuations to go back to where they were I know of at least two companies in the billion+ range that could have sold at 20%+ premium to their current valuations but walked away thinking those offers were too low, only to see markets melt in the 6-12 months that followed...