VC funding dropped hard. Capital pulled back sharply month over month, deal count slowed, and the trend has been drifting lower for months now alongside weaker market conditions. This usually signals a shift in behavior less spray and pray, more selective bets What stands out for me is where activity still exists: DeFi, infra, and AI-linked projects continue to attract attention even as overall funding compresses So, capital is not leaving but concentrating. Are we watching a slowdown… or the start of a much tighter capital cycle?