This year has already seen 14 megafunds raising $14.4 billion. The venture capital ecosystem is on course to set a record for the annual number of mega-deals with valuations of at least $100 million. As a result, young startups with strong teams, compelling products, and limited traction may find themselves with tens of millions of dollars, but without much real validation of their businesses. The implications of the rise in large-scale venture funds warrant searching examination and speculative discussion.