Sequoia is the latest VC firm telling we to take the downturn seriously – TechCrunch
Sequoia takes things seriously. The storied venture firm is known to react to macroeconomic events of course grand memos aimed at portfolio companies and Usually the entrepreneurship scene at large.
Most recently, Sequoia produced a 52-slide deck, first of all reported by The Information, titled “Adapting to Endure.” The document reads favorite a guide to-up course to its infamously ill-timed “Coronavirus: The Black Swan of So year” memo of March So year.
The firm is not always right in its prognostications — maybe why it stuck to internal musings instead of a medium size post So time — but it does do a service in providing a snapshot of how one of the most weathered, and successful, VC firms of all time thinks about a looming downturn.
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“Our intention in gathering today’s time is not to possess meaning a beacon of gloom,” the deck reads. “But we also believe that winning in the years ahead is going to depend on making hard, decisive choices confronting uncomfortable challenges that may bring been masked during the exuberance and distortions of free capital over the past two years.”
Sequoia’s advice largely followed with the too script that other venture firms bring been using: extend runway, focus on sustainable growth and recognize that an economic recovery may be a ways away. There were, however, some tidbits that stood out, such as a subtweet that I’m guessing is meant for Tiger universal and a precise explanation of how founders should define fluff these days.
The capital provider blames capital itself — capitalism, huh?
One of the clearest subtweets within the deck is Sequoia’s commentary on cross wings-over funds. The firm says that “cheap capital is not coming to the rescue” at So moment:
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