It's not saying the sky is falling.
Venture funding isn't going to dry up. It's going to tighten up. In three to six months. That's the thesis of this article.
I believe it's plausible that the venture market will cool down soon. Here's why:
A lot of companies have been getting funded now with very company-friendly terms and valuations. This is because the investment market is hot right now. An entrepreneur told me, in January, that this is one of the best financing seasons he's seen in a while, and that anyone looking to raise money should do it immediately. He predicted the market would stay hot until the summer, but was cautious about predicting after that.
It seems inevitable that the market will cool down at some point. VC funding keeps lagging general economic trends by a quarter or two, the article notes. The economy is currently down. The author extrapolates that VC will be down soon too. Seems like a reasonable inference.
This article predicts that in three to six months, that it will be more difficult to raise money. Not impossible, just more difficult.
Companies with sound fundamentals (i.e. proven business model) will still get funded. They just won't have money being stuffed in their hands. Terms won't be as favorable to entrepreneurs.