Not at all. It's just that the investors here did a piss-poor job of looking at the company pre-investment. Lots of herd mentality and external validation going on rather than common sense and some skepticism. The funding crash seems to be mostly based on less than stellar returns for previous funds now at the end of their life-cycles.

That makes it a lot harder to get LPs to pitch in. Still, even today there is a glut of money chasing far too little viable start-ups so as far as I can see if you have a solid proposition it should not be hard to find funding. If you are a bs artist then it may get a little harder, and that's a good thing (especially for those entrepreneurs that do have something to offer).