The Wall Street Journal had an interesting article about how former growing centers of VC funding (such as Dallas) are losing their edge amid this tough funding climate. Only the VC clusters in Boston and Silicon Valley seem to be thriving.
From the article: Many of the VC firms in Dallas have run out of cash and stopped investing in new startups. Only six new venture funds have been raised in New York this year, totaling $486M, down from 14 new funds with $1.9 BN in 2006.
http://bit.ly/le8Tl