GV, the division of Alphabet, is no longer investing in startups that are at their nascent stage. According to data from research firm CB Insights, GV completed no seed-stage deals in the first half of this year, down from 10 such deals last year. That represented a 77% drop from the number of deals it did in 2014. Quartz reports (edited and condensed): GV's former chief executive and co-founder, Bill Maris, who stepped down earlier this month, told the Wall Street Journal in December that he was cutting fewer checks at the seed stage because he thought that market was overheated. He also said that he was mystified by the reluctance of some portfolio companies to avoid a stock market flotation. "They would benefit from the rigor and discipline that the public market requires," he said.