This has been true even before the recent early stage deal inflation surge. All the increase in average Series A rounds did was reveal it. Still too much money chasing too few deals.
“At at time when the average Series A round is now north of $20mm (based on very anecdotal evidence and not at all scientific), this poses challenges for the VC industry,” says Wilson.
via CHART OF THE DAY: Why It’s Hard Being An Early Stage Investor Right Now, According To Fred Wilson.
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