In June 2021, MetaProp had just closed an oversubscribed $100 million fund. Now, the venture capital firm formed in 2015 that focuses on proptech released its midyear confidence index. Though the results might suggest a different name: the lack-of-confidence index.

"The Mid-Year 2022 Global PropTech Investor Confidence Index is 5.8 out of 10," the firm wrote. "This is the lowest Investor Confidence Index to date, declining considerably from its all-time high of 9.3 achieved just six months ago." The index has been around since 2016.

That confidence has dropped should not surprise. The stock market has been hit hard. Inflation is up, as are interest rates, making deals and profits tougher for the ultimate users of the technology companies would create. Technology stocks in general have been badly affected. And confidence on the part of VCs has generally been off. Some of the biggest have warned their investments to pare costs and hand tight because more equity money isn't likely to be rolling in.