We all see the world economy is weak and crude oil price is a good indicator of this. However, the increase in VC spending can only mean that investors are willing to put money in concrete plans rather than in markets where the camel can sit either way.
I think VCs are having great moments with all these nice exits. It makes sense they can raise more money. That means spending will also go north. No one expects major VC correction anytime soon because they continue to throw money to elite ideas. It is a tough market if you are average to raise capital. So, the great guys are having fun. It is a better world when you can throw $1M and expect to be getting 10x multiples within months because valuations have gone through the roofs.