Why do you not think quality startups will be effected by this? Here's a scenario for you.
A company is looking to raise a Series B. They make a lot of money. Close to $650k per month. However, they want to grow to 100 employees to tackle a new market with a new product. Without an influx of funding they just can't get there. So they try to raise a series B round. Because investors are super cold they simply aren't funding any companies (this is exactly what happened in 01). That company can't grow, they lose out, and eventually either fold or downsize.
There won't be one left. All of the Twitter, Uber, AirBnB engineers sitting around with no job will take the low hanging fruit working for $50k per year at your local startup. Good luck finding a job when there aren't any.
A company is looking to raise a Series B. They make a lot of money. Close to $650k per month. However, they want to grow to 100 employees to tackle a new market with a new product. Without an influx of funding they just can't get there. So they try to raise a series B round. Because investors are super cold they simply aren't funding any companies (this is exactly what happened in 01). That company can't grow, they lose out, and eventually either fold or downsize.