Venture capital fundraising hit a record-high last year. There were more deals, and more money poured into startups last year than at any other time in history. Now, the FT’s Richard Waters says the fundraising bonanza is over. On this week’s episode, we explore what that means for the future of startups. Clips from Looney Tunes: ⓒ Warner Bros. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Venture capital’s silent crash: when the tech boom met realityKlarna’s valuation crashes to under $7bn in tough funding roundVenture capital’s delayed rendezvous with reality- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Richard Waters (@RichardWaters) and Michela Tindera (@mtindera07)Read a transcript of this episode on FT.com See acast.com/privacy for privacy and opt-out information.