After two years of relatively muted investment activity, it seems that VCs are starting to pour capital into startups at pandemic-era levels once again. But a closer look shows that they aren’t really. In the fourth quarter of last year, investors funneled $74.6 billion into U.S. startups, a substantial increase from the average of $42 billion invested in each of the previous nine quarters, according to PitchBook data released on Tuesday. While these funding levels were previously seen only duri...