The venture capital (VC) industry is experiencing a significant shift as established firms continue to raise record funds, while smaller firms struggle to secure investments. Carta's recent VC Fund Performance report for Q1 2024, as noted by Beezer232, highlights the industry's recalibration from the Zero Interest Rate Policy (ZIRP) era, impacting the performance of recent VC vintages. This period has been described as an 'awful vintage' for venture funds, with too much capital having been allocated to marginal firms since 2021. As a result, there is a growing trend towards indie hacking and small-scale innovation, challenging traditional Silicon Valley principles. Notably, some independent entrepreneurs are rejecting VC funding, opting instead for alternative business models. This shift is seen as a potential turning point in the tech industry, where power may return to builder-VCs and tinkerers rather than finance-focused VCs.