Exactly. And it's even more complicated: the author assumes that funding is distributed evenly over the year, when it's not. Very few deals close during the sum

Exactly. And it's even more complicated: the author assumes that funding is distributed evenly over the year, when it's not. Very few deals close during the summer, and the period September-December is particularly active. To the OP: you are jumping to conclusions too quickly without asking the right questions. You also seem too attached to your hypothesis. I recommend that you read Nate Silver's new book "The Signal and the Noise."