Wow @ this Sequoia memo that just dropped. Founders about to learn the survival skills of ‘09.
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Agree — was looking at RIP Good Times and there was a lot more, "THIS IS THE BIG ONE!," language. This new memo is just general "efficient entrepreneurship" boilerplate.
I do think it’s useful / self-serving for funds to take moments of economic dread to hammer in the same set of truths that are good for business raise less, hire less, dilute us less
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Fwiw, I don’t think Sequoia did that and is going to do that. It’s good to be skeptical but I think the intentions are good here.
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naturally, they’re a tier one shop and act like it. Have seen many, many low tier shops use this entire frenzy to force portcos to act in self serving ways (raise more, raise less, hire, fire, sell, etc)
End of conversation
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