...had rates been at 5% the past 14 years, I doubt very much that the gig economy, self-driving cars, crypto, metaverse or AI would have gotten even 10% as much funding.” (interest rates were held to near zero from 2009 to 2022 by the Fed)

-- Roger McNamee, one of the first investors in Facebook, who was responsible for introducing Mark Zuckerberg to Sheryl Sandberg.

Interesting. Have heard this argument but not from a VC.