I think that's well-stated by the author. > Nevertheless, I’ll be paying attention to the Series A market, because if the trend continues, and the Series A rep

I think that's well-stated by the author. > Nevertheless, I’ll be paying attention to the Series A market, because if the trend continues, and the Series A replaces the B, we can finally state with confidence that the Series Seed is new Series A, which would imply a very substantial change in industry dynamics. I'm just glad it doesn't make big claims about some bubble based on the data in the graphs. There may be a bubble, but we have to at least look at assets and earnings vs. series A for that to be remotely meaningful.