Nic, I agree that the seed deal data looks weird but needed to rely on a single database for comparison (in this case CBInsights). Their classification of seed (and perhaps when they started capturing data) might affect the 2010 number (will ask them). Directionally though the volume at the top of the funnel is correct and I agree it’s a positive sign with some negative undertones. Overall bullish on where the ecosystem goes…

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Geeky tech-guy backing same. Previously co-founder of @whitestarvc exec roles @facebook @google @microsoft. Salvadoran-born Londoner. YGL of the @wef Father ^3

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