[jlas]

ZIRP is over and startups are back to hard mode

> In 2021 and the first half of 2022 (when most of the 2022 activity happened) we essentially crammed 5 years worth of funding into an 18 month period. Series Bs and Cs were raised when companies were at the typical Series A milestones. Normal round sizes doubled or tripled. Every type of investor was broadly operating in a “risk on” mindset given the ZIRP environment, and the venture capital ecosystem was no exception.

From https://cloudedjudgement.substack.com/p/clouded-judgement-11...