I think this is the old way of thinking in the VC world. Yes, it still happens, but I think enough VCs have been burned by garbage deals that they are starting to look under the hood more carefully. No VC wants to be funding the next Theranos or WeWork. Bad economy doesn't mean going back to 2008 funding levels. I think a bad economy today means that the companies being created need to have a viable path for growth as well as profitability.