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Mega Rounds

43% of VC funding went to 14 companies last month. The middle class of startups is dead.

Dec 12, 2025

43% of VC funding went to 14 companies last month. The middle class of startups is dead.

Everyone's celebrating "funding is back." Nobody's noticing only mega-rounds are back. Here's why 95% of startups are now unfundable.

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