Comment by api

I don't see that... or rather, if it's true here it's true to a significantly greater extent in most other industries.

Money continues to be available, and often lots of it. It's available on better terms than most others in most other professions can even imagine receiving.

To put it bluntly: in most industries you are meat and own nothing and never have any chance of owning anything. This has been the condition for nearly all human beings who have ever lived, today and in the past.

There are also more alternatives to VC today: larger angel rounds, crowd funding, etc. It's also easier to bootstrap since everything (but people) has fallen in price. Those two things together have made the funding environment more competitive for VCs -- they have to offer more value or compete at the higher end.