Off the core topic, but the author seems to misunderstand what the Series A crunch is.
The Series A crunch isn't anything to do with crappy companies raising huge series As. Rather the crunch is caused by the huge growth in the number of companies successfully raising angel rounds (both through accelerators and the explosion of angels created by the IPOs of Google, Facebook, etc.).
While the number of Series A rounds done by VCs is going up, it's been growing nowhere near as fast as seed funding so naturally the number of angel funded companies who fail to raise Series As is going to go up. Hence the term Series A crunch.
The Series A crunch isn't anything to do with crappy companies raising huge series As. Rather the crunch is caused by the huge growth in the number of companies successfully raising angel rounds (both through accelerators and the explosion of angels created by the IPOs of Google, Facebook, etc.).
While the number of Series A rounds done by VCs is going up, it's been growing nowhere near as fast as seed funding so naturally the number of angel funded companies who fail to raise Series As is going to go up. Hence the term Series A crunch.