> Can someone tell me what changed? At a macro-level: The Federal Reserve started tapering the amount of money being printed. They have also signaled that in

> Can someone tell me what changed? At a macro-level: The Federal Reserve started tapering the amount of money being printed. They have also signaled that interest rates are rising. Both of those things affect the money flow to the VCs, as well as the exit options in the public markets. In truth: People should be happy that the party has gone on for as long as it has.