Your Daily Gist — April 18, 2026

Hi Quai, welcome to Daily Gist — your newsletters, distilled into conversation! We are entering a venture landscape where the floor is falling out while the ceiling hits orbit. The ceiling might be rising for a few, but how does the floor falling out look in the actual ledgers? If the total number of deals is cratering, those massive totals we are seeing must be coming from a very small circle of founders. It is exactly that. It is a gated community