VC money is unfathomable. It's not drying up any time soon. They may choose to shift it if there's some kind of crash, but it's too much money to just run out.

VC money is top 1%er money. Because they are so overloaded with cash even really hairbrained stuff gets funded by someone looking for something, anything, that can beat the market.

The VC market is basically medieval patronage with a capitalistic flair. Now the patrons are expected to bring you in massive returns instead of just producing culture.

Especially when money is so cheap and has been for a decade, and getting cheaper.