There was more driving the Bubble than investors deciding early which startups to fund. For one thing there was another entire layer of guessing, as noob LPs p

There was more driving the Bubble than investors deciding early which startups to fund. For one thing there was another entire layer of guessing, as noob LPs poured money into venture funds created by noob VCs. That's not happening now. In fact the situation is the opposite; the VC business is contracting.