https://techcrunch.com/2023/01/14/the-mirage-of-dry-powder/ > elcome to the TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s inspired by the daily TechCrunch+ column where it gets its name. Want it in your inbox every Saturday? Sign up here. > Are VCs really sitting on record amounts of cash waiting to be deployed into new startups? I wish. But if it sounds too good to be true, it probably is. — Anna