Find XO: Q1 Funding Hits Record High but Money Went to the Few (techcrunch.com)

- Global startup funding in the first quarter hit a record high for the quarter, but the total amount was driven up by a few mega deals like OpenAI, Anthropic, xAI, and Waymo. - The market felt by most early-stage teams outside these is far from the headlines. - The high valuations received under the name of AI come back as pressure to prove revenue and unit economics faster before the next round. - Vertical AI also cannot serve as a refuge without a deep moat.