So if these guys are reliable (?) and if I understand this right, from 2011 to 2012 we saw:<p>* An increase in preferred stock deals, decrease in convertible note deals. (bad)<p>* if you started in 2011, 50% of you got a series A. Started 2012 - only 33% (bad)<p>* this is somewhat offset by doubling of seeded companies getting follow-on seed finance (12% - 23%, almost half of the drop above) (good)<p>Trends:<p>- Seed financing is becoming institutionalized (if you see Angellist as an institution)<p>- Seed deals grew ~400% and Series A grew by 50% (This is the Series A Crunch right there)<p>- Getting Series A needs traction, apparently traction is not being shown by most companies started in 2012. (v bad)<p>Also:<p>There appears to be a difference between software companies and "Internet/Digital media" companies. I am guessing content but frankly how can content be 3/4 of the funded market?<p>It ignores companies funded with less than 1/4 million - so that may well explain the preponderance of "content" companies.<p>Summary<p>Overall I like broad sweep reviews, its my years of Risk playing. But it does not look too good for companies taking finance and hoping to drive into millions more on Series A - and only a review of the sub-250K market is going to tell if the world is drying up, or startups are becoming in the old words "too cheap to meter"