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Another tactic is to look at the sources quoted in the article. In the WSJ article yesterday, the primary source was Naval from AngelList -- who has a better view of early stage financing than anyone I can think of.

Unless she distorted or fabricated his quotes, I think there may be something to the story.

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Naval sees one small slice of a very large market.

Given the bleak macro economic picture, funding has probably fallen on Angel List, where a lot of doctors, lawyers, and non techie investors look for deals.

But the overall picture for early stage funding, as concrete data shows, did not get any grimmer over the last two quarters.

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