Have you read the news today, oh boy?

Cinemagram raises $8.5 million to serve "tens of terabytes a week of data".

Wikia raises $10 million to fund mobile and video.

Netflix raises $20 million to "enable more technology to be added to Rent The Runway’s platform".

Evernote raises $85 million because ”It’s nice to have this extra peace of mind, even if we don’t strictly need it.”

What conclusion can we draw?

Even if there's a venture capital crunch, there's also a winner-take-all force that's underlying everything.

Unlike the bubble burst of 2001 and the financial crisis of 2008, there is money out there. It's just... cautious and afraid to invest in companies that don't have the momentum of other investors pounding the table.

 Basically, investors lack intestinal fortitude.