GIGA OM reports that Sequoia Capital (the biggest VC company) had an emergency meeting with the executives in their entire
portfolio of companies.
The execs were greeted with a large Tombstone that said:
"RIP: Good Times"
Five execs from Sequoia spoke. They informed their portfolio execs to brace for the lergest economic downturn ever and were instructed to immediately cut spending.
Sequoia got burned before in the bear market of 2000 - 2001. They learned their lesson, and did not want to repeat their own history.
The meeting was apparently dire, filled with data, historical experience and stern advice.
Its not hard to connect the dots and figure out what was advised. It would also be smart for Sequoia to utilize its
portfolio of companies so that each of the firms intensify their assistance for each other, aiding or ensuring survival.
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