So..... Could someone help me understand how we are simultaneously seeing a Seed Surge, a Series A Crunch, and a surge in $ filtering into "startups" from rich

So..... Could someone help me understand how we are simultaneously seeing a Seed Surge, a Series A Crunch, and a surge in $ filtering into "startups" from rich investors looking to increase ROI due to low interest rates? In other words, why are we seeing an hour-glass shaped funding environment and not a Series A Surge concomitant with the inflation in valuations? Or more simply, why have Series A funds plateaued considering all other stages have experienced increased competition? What is unique about Series A that is creating this lack of VC competition?