You wouldn't expect the uptick in venture financing to immediately result in an uptick in venture exits. Using the 'pipe' metaphor, the flow takes time. The pip

You wouldn't expect the uptick in venture financing to immediately result in an uptick in venture exits. Using the 'pipe' metaphor, the flow takes time. The pipe has nonzero length. In fact, the pipe's length should be roughly the length of the average time to exit for a startup (weighted by exit size). So the latency in the system should be much longer than one year. This is the problem with semi-quantitative thinking. And lazy journalism. Then again, I did click on the link and read the article, so maybe I'm misunderstanding the point: the author got what she wanted out of me.