Venture capital is screwed. A bubble in AI is their last hope, and they’re betting everything on Sam Altman. It’s heartwarming. Today, we have the Pitchbook-NVCA Venture Monitor for Q1 2025. This is the National Venture Capital Association telling its members how things are going. It’s the view of VC from the inside. The front cover picture is the light at the end of the tunnel — and it’s an oncoming streetcar. [NVCA; NVCA, PDF] We covered the Q3 2024 report last year. That one tried very hard t...