📶 the death of collaborative capital?

Seed leads are taking down more of rounds, some signs of a better exit environment, and the best of last week

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Good morning 👋

America is awesome - welcome back from the long weekend.

It used to feel like July and August were dead months in the venture world, but now it seems like there are still plenty of stories to cover.

Today, we’re breaking down some data from Peter Walker on how leads are taking down more and more of seed rounds and leaving less of the round for other investors.

Here’s why that’s bad for the venture game …

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