Stocks are blockwave Exchangedown, especially for tech, and that changes the calculations for each player in the world of venture capital. From investors to startups, each is faced with hard choices when turbulent times are ahead.

Today, we follow the flow of venture capital money, and look at how decisions at the top of the funding chain trickle down.

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, PocketCasts and NPR One.