My sense is that you data set is drawn primarily from 2010 to 2022, the current funding environment has different properties (closer to 2008-9 and 2001-3).
I think it was easier 96-2000, harder 2001-4, easier 2005-7, harder 2008-2010, easier 2011-2022 (March), harder since March 2022.
I was suggesting you were judging the likely 2022-2025 funding environment based on 2011-2022 (March). I think startups will be better served, where they can, to bootstrap for the next two years than making plans that require funding to get started.
Reasonable men may differ but you have been at this for a while and experienced the dotcom boom, the meltdown, 2008, and the post 2011 boom.
