A snapshot of the 'Capital Crunch' following the SVB collapse. The data shows a 50% drop in deal value year-over-year, with 'Mega Rounds' effectively vanishing. However, it highlights the 'Dry Powder' paradox: VCs are sitting on record amounts of uninvested capital ($300B+), but are deploying it slower (time between rounds increased to 18 months). The charts reveal a 'Flight to Quality', where only the top 10% of startups are raising at flat valuations, while the rest face down rounds or extension bridges.

The market isn't closed; the bar is just higher. This archive calibrates founder expectations for the post-ZIRP era. It proves that 'Growth at all costs' is dead, replaced by 'Capital Efficiency'. Founders must use this data to justify lower valuations and prioritize runway extension over aggressive hiring.