Exactly, last year's funding craze was laughable. We all knew it in the moment. Fast's rise and fall is exhibit A.
Whenever people worry about startups having trouble raising, I think they forget that most startups are trash. Now, fewer of the bad startups are going to get funding. The worthwhile startups will be fine, maybe even better with less noise in the landscape.
I imagine most of the startups that continue to thrive will be the ones that are well-funded by Tier 1 investors: https://topstartups.io/