So, we're confused.
Supposedly there is a quiet funding crunch for startups trying to raise their first rounds of venture capital.
Wealthy individuals and incubators like Y Combinator have launched dozens of startups into the Silicon Valley fundraising free-for-all, and there simply aren't enough professional venture-capital investors to fund them all.
Everyone agrees that a slowdown is probably a good idea, because too many silly, small-scale ideas are raising seed funding, distracting would-be entrepreneurs from taking serious jobs at serious companies doing serious things.
And then Cinemagram, a startup whose app turns snippets of video into animated GIFs, goes and raises $8.5 million.
Heaven knows the kids on Tumblr love animated GIFs.
But still.
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