[j_baker]

Let me start by saying there is an obvious bubble in the market - or in more professional terms, an oversupply of early stage capital, mostly in seed stage. It is no news that in the last couple of years many new private individuals / angels / micro-funds have entered the venture market, and are funding companies at the earliest of stages.

Well since it's so obvious, it should be trivial to give data to back your arbitrary-sounding claim. Unless of course, this really is an arbitrary and unfounded claim.