One thing Iโve noticed has changed since the late 90s is the sort of things being funded. It used to be new technologies (e.g. computers, networking gear, etc.) but itโs pretty much become nothing but monetization strategies for existing tech (e.g. Facebook, Uber).
I think whatโs happened is that the engineering founders have been replaced by finance guy founders who want in on the action PLUS. They have an advantage cuz they know the investorsโ culture already.