I think this is the Pitchbook report they’re reporting on: “PitchBook-NVCA Venture Monitor 2nd Quarter 2023” https://pitchbook.com/news/reports/q2-2023-pitchboo

I think this is the Pitchbook report they’re reporting on: “PitchBook-NVCA Venture Monitor 2nd Quarter 2023” https://pitchbook.com/news/reports/q2-2023-pitchbook-nvca-venture-monitor https://pitchbook.com/news/reports/q2-2023-pitchbook-nvca-ve... > Takeaways include: > Raising capital is now markedly more difficult even at the seed stage, where quarterly deal value declined 26.3% from the prior quarter. > Trapped capital continues to build in mature startups: Just $12 billion of exit value was realized in the first half of the year, with Q2 deal value coming in at a decade low. > There are now 50,000 VC-backed companies, double 2016 levels, demonstrating the risks of a prolonged capital shortage.