I was in SF last week and met with more than a dozen VCs over the course of two days. This was post the holidays, post their visits to the ski chalets in Tahoe and the island beaches, and in the smack dab of one of the most important fundraise periods of the year — the mid-to-late January to April stretch when all the backlog of startups from Q4 initiate their fundraises for the new year. When is the right time to pitch VCs for funding? And the one constant refrain I heard over and over again across these conversations was just this: VCs are tired. The reasons were similar if not perfectly overlapping.