The headline number doesn't have to be big for there to be overvaluation going on en masse. What about the hundreds of early-stage fundings going on right now?

The headline number doesn't have to be big for there to be overvaluation going on en masse. What about the hundreds of early-stage fundings going on right now? I don't think there's been a sudden explosion in the number of good companies being started - just a huge increase in the number of investments that angels and VCs are willing to make. That's a sign of a bubble