https://techcrunch.com/2023/05/04/seed-stage-deal-valuations-soften/

It’s been over a year since macroeconomic headwinds started wreaking havoc on venture capital. Late-stage startups were the first to feel the blow, but the impacts continued to creep lower as 2022 went on.

Now in 2023, it seems the uncertainty has made its way down to the seed stage — for some companies, at least.