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In 2025, venture capital can't pretend everything is fine any more


Venture capital is screwed. A bubble in AI is their last hope, and they’re betting everything on Sam Altman. It’s heartwarming. Today, we have the Pitchbook-NVCA Venture Monitor for Q1 2025. This i…

Should the latest iteration of tariffs stand, we expect significant pressure on fundraising and dealmaking in the near term as investors sit on the sidelines and wait for signs of market stabilization. The report somehow fails to mention the bit where the Silicon Valley VC and executive crowd worked their backsides off to elect Trump and several of them sat in the front row at his inauguration. CoreWeave, riding the AI buzz for all it was worth, was the big public exit in first quarter 2025, and that one fell flat because their numbers were objectively terrible and their business plan doesn’t work.

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