How Might the Federal Reserve's Interest Rate Hike in 2022 Impact Tech Startups' Valuations?

Does anyone have a perspective or done an analysis of how The Federal Reserve raising interest rates in 2022 might or might not impact tech startups multiples? Some Wall Street analysts are predicting that higher interest rates will be good for some sectors like banking stocks and bad for tech stocks which could mean that tech startups valuation could be lower. I know these are just forecasts just wondering what the VCs are thinking. Appreciate your thoughts.