Updated: Sequoia Capital, arguably the smartest venture capital investor in business, is sounding the alarm and asking its portfolio companies to buckle down for what could be the worst economic downturn of their relatively short lives.
The fund organized a meeting yesterday where it invited entreprenuers/CEOs from its portfolio companies. The attendees were greeted by a cute image of a Grave Stone, with a message: R.I.P.: Good Times, my sources tell me.
I was able to confirm this with at least two sources. I am currently trying to nail down more details. Sequoia Capital declined to comment on the news.
The gathering was addressed by at least four speakers, including a brief introduction by Mike Moritiz. Doug Leone was another speaker. I am still trying to nail down more details of the two other speakers. A person who handles Sequoia’s public market investments is said to have talked to the startups. The message delivered to those in attendance was that things could get a lot worse than people think, and it will be a more protracted downturn. To give a historical perspective, Sequoia had a similar meeting back before the last bubble unraveled burst. We know how that turned out.
They want the companies to cut costs, to figure out way to survive and emerge at the other end of this downturn, which could last years. The speakers went through each functional area of the business and told the companies how to cut costs. By holding this special meeting, Sequoia is telling its companies to put survival strategies in place and figure out ways to outlast the broader market troubles.
Uber-investor Mike Moritiz told The Financial Times earlier this week: “It’s pretty clear that demand is going to soften across the board for every company - it doesn’t matter if you’re selling to consumers or companies.” Moritiz isn’t one to mince words, and is one of those few people who likes to get ahead of the fire and not fight it from behind.
Sequoia isn’t the only one advising its startups to tighten their fiscal belts and prepare for a gut-wrenching ride. Ron Conway, a well-known angel investor in the Valley who has invested in companies like Google, offered very sobering advice to his companies via an email earlier today.
Raising capital will be much more difficult now. You should lower your “burn rate” to raise at least 3-6 months or more of funding via cost reductions, even if it means staff reductions and reduced marketing and G&A expenses. This is the equivalent to “raising an internal round” through cost reductions to buy you more time until you need to raise money again; hopefully when fund raising is more feasible.
Letting go of staff is hard and often gut-wrenching. A re-evaluation of timelines and re-focus on milestones with an eye to doing more with less will allow you to live many more days, and the name of the game in this environment in some respects is survival — survival until conditions change. If you are in a funding cycle, you should raise your funding as soon as possible and raise as much as possible but face the fact that if you can’t raise money now you must cut costs.
Folks this is bad news for Silicon Valley, which has been living in a bubble, assuming that it is going to weather the global economic storm without being impacted. We have been following this story since last year, pointing out that the tech is not an island.
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[...] Leading Silicon Valley venture firm Sequoia held an emergency meeting yesterday to tell its portfolio companies to get ready for the worst, GigaOm is reporting. [...]
6:39 PM PT
[...] It’s the same advice, actually, that he gave in 2000 during the tech meltdown that was then happening in real time. Lower your burn rates to get at least 3 more months out of your current money, and raise money right now if you can. It’s very similar to what Sequoia (and other VCs, I’m sure) are telling their startups. [...]
7:01 PM PT
[...] To make you more nervous about how bad the outlook may be, read Om Malik’s ominous preliminary report on trouble in Silicon Valley. [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble - GigaOM [...]
7:30 PM PT
[...] It’s the same advice, actually, that he gave in 2000 during the tech meltdown that was then happening in real time. Lower your burn rates to get at least 3 more months out of your current money, and raise money right now if you can. It’s very similar to what Sequoia (and other VCs, I’m sure) are telling their startups. [...]
7:51 PM PT
[...] venture capital world has long been known is fast turning into a querulous hopelessness. To wit, the emergency gathering held at Sequoia Capital this week. It’s purpose: to prepare the firms portfolio companies for a protracted [...]
7:53 PM PT
[...] 実はこのアドバイス、同氏が2000年に、当時起こっていたテクノロジー危機の最中にリアルタイムで話したのと同じものだ。資金の回転率を下げ、少なくともあと3か月間は現有資金でやりくりし、可能であれば今すぐ資金を調達すること。これは、Sequoia(他のVCもそうだと思う)がスタートアップに話していることとよく似ている。 [...]
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[...] Om Share and [...]
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[...] to reports of the meeting, first reported by GigaOm, and confirmed by VentureBeat, attendees were greeted by a gravestone with “RIP Good [...]
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[...] them to hunker down. And now everyone notices that things may not be so peachy in Web 2.0-ville. GigaOm has the details and notes that the Valley is in for rough times. My question: What took Sequoia so long? Here on [...]
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[...] Sequoia Capital (via GigaOM) [...]
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[...] over to Gigaom and read their article about Sequoia ringing the alarm for Silicon Valley. Sounds like even the [...]
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[...] calm, freak everyone out with their own passive aggressive panic. If you don’t believe me, Sequoia and Uber angel investing guru Ron Conway are just now writing letters to all their CEO’…. I mean [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble Posted by Ganesh S Bhat in Current Affairs at 23:01 | Comments (0) | Trackbacks (0) Karma for this article: [...]
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[...] industry. So it is no wonder that the players in the industry are more than worried today now that Om Malik reports that Sequoia held a meeting for founders of its portfolio companies to talk about the economic [...]
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[...] venture capital world has long been known are fast turning into a querulous hopelessness. To wit, the emergency gathering held at Sequoia Capital this week. It’s purpose: to prepare the firm’s portfolio companies for a protracted [...]
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[...] wildly, and industries all over the place are in trouble. You know it’s bad when the Sequoia Capital says it’s bad. Even the folks that make staples like aluminum are having [...]
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[...] economic downturn is started to reach into the venture-capital world as well. Sequoia just sounded the alarm bell, signaling that bad times are ahead for their portfolio [...]
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[...] these statements, but the harsh reality of the economic climate is about to bite, if not already. Sequoia Capital, one of the leading VCs in the Valley, has started to make sure it’s portfolio understands [...]
4:05 AM PT
[...] It’s the same advice, actually, that he gave in 2000 during the tech meltdown that was then happening in real time. Lower your burn rates to get at least 3 more months out of your current money, and raise money right now if you can. It’s very similar to what Sequoia (and other VCs, I’m sure) are telling their startups. [...]
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[...] to GigaOM Sequoia yesterday called their portfolio company CEOs to a meeting, greeted them with the above [...]
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[...] Conway (reconocido inversor angel) y Sequoia (reconocido VC) coinciden en que, debido a la crisis financiera, se vendrán tiempos dificiles para [...]
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[...] FriendFeed: Sequoia Capital (the venture capitalists behind Yahoo and Google, to name just two), have called off the tech boom and told their companies to start preparing for the [...]
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[...] dazu gibt es hier. Technorati tags: silicon valley, finanzkrise, vc « Q&A mit Mark [...]
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[...] on October 8, 2008, “Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble” here. For me, the most interesting point in the write up was this statement: “R.I.P. Good [...]
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[...] for the downturn Image by Jeroen Krah via FlickrAs austerity takes over from ostentation, sensible investors are telling their companies to knuckle down and reduce burn. Hat, tip [...]
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[...] (link) [...]
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[...] Del.icio.us Reddit Email This no ratingsLogin to Rate Sequoia Capital gathered its startups together on Tuesday for an emergency meeting about the economic downturn. When the startups arrived, GigaOM [...]
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[...] of noise today, RIP Good Times, IT’S OVER! POP GOES THE BUBBLE, Sorry, Startups: Party’s Over etc. I [...]
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[...] aufpassen. Denn: Die Banken- und Finanzkrise hat nun auch das Silicon Valley erreicht. Wie Om Malik auf seinem Blog GigaOm berichtet, hat unter anderem der VC Sequoia (Google, ebay, etc.) die [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble [Giga Om] [...]
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[...] by internet_startups on October 09, 2008 Internet Startup News According to Om Malik, ‘Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble‘, suggesting “Sequoia Capital, arguably the smartest venture capital investor in [...]
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[...] with their portfolio companies advising them to “tighten their belts” according to Om Malik of GigaOm. The message delivered to those in attendance was that things could get a lot worse than [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble Sequoia Capital, arguably the smartest venture capital investor in business, is sounding the alarm and asking its portfolio companies to buckle down for what could be the worst economic downturn of their relatively short lives. _____________ Source: GigaOM [...]
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[...] Ron Conway y Sequoia Capital le dicen a su portfolio que los tiempos cambian y el financiamiento se va a cerrar tanto como en el [...]
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[...] buckle down for what could be the worst economic downturn of their relatively short lives.” According to Om Malik: They want the companies to cut costs, to figure out way to survive and emerge at the [...]
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[...] to look dismal, the reverberations are being felt within the tech sector. As our parent blog GigaOM reports, the venture capital firms are starting to get antsy about whether Silicon Valley can continue [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble: The fund organized a meeting yesterday where it invited entreprenuers/CEOs from its portfolio companies. The attendees were greeted by a cute image of a Grave Stone, with a message: R.I.P.: Good Times, my sources tell me… Read more on GigaOM. [...]
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[...] Tras este preámbulo os preguntaréis qué tiene que ver todo esto con las inversiones en internet. Me asusta pensar que los excesos que se han producido en el mercado inmobiliario e hipotecario se hayan extendido también a las inversiones de internet. Por eso me pregunto de dónde salía el dinero que el capital riesgo ha estado invirtiendo en cantidades importantes en empresas de internet? y sobre todo las inversiones en Estados Unidos. Si el dinero era suyo estaremos ante procesos de inversión lógicos, como el que realiza cualquier inversor que compra acciones en bolsa y espera a que suban para vender. Pero qué pasa si el dinero que invertían era prestado? pues lo que pasa es que estamos ante un grave problema. Muchos de los planes de negocio de nuevas empresas de internet se basan en la realización de varias rondas de inversión hasta logra el break even y otros tantos de esos planes de negocio se basan en llegar a obtener beneficios en una situación del mercado favorable, no sumidos en una crisis mundial (con crisis de inversión publicitaria entre otras cosas). Si el dinero era prestado, ahora ya no se presta más dinero así que se acabaron las rondas de financiación. Algunos fondos e inversores en USA ya han dado la voz de alarma. [...]
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[...] sector has found its way to the Silicon Valley crowd. Warnings from investment stalwarts such as Sequoia Capital and Ron Conway have almost single-handedly ended the exuberant atmosphere among the entrepreneurial [...]
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[...] Last night I reported on a special meeting held by Sequoia Capital for its portfolio companies, warning them about the fiscal hurricane that was going to hit them, and how they’d better figure out ways to survive what could be a big downturn. [...]
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[...] will be affected, but actions are starting to be taken. In one of the most alarming examples, GigaOm reports today, that Sequoia Capital, is telling its portfolio companies to buckle down, and illustrated the point [...]
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[...] downturn of economy may be longer than expected, thus many years. If it ever recovers fully… Gigaom has a good article. Angel investor Ron Conway has the same [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble - GigaOM (tags: sequoia vc economy startups) [...]
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[...] the Dow in free fall, venture capitalists apparently are coming to grips with reality. Om Malik is reporting that Sequoia Capital this week brought in a bunch of its startups CEOs to let them [...]
4:43 PM PT
[...] [Sequoia Partners distributed a tough message to its CEOs earlier this week, essentially calling on t...] This is an important message as all start up companies must fight their way through some tough economic times ahead. Please read [what Sequoia wrote] and start considering how the world has suddenly changed and how it will affect each of you. The message is: save cash, focus on your core business, build revenues (or get to them quickly) and establish your value proposition now. Don’t waste money on nice to haves or crazy experiments. Discipline your team. Stay lean and tight. [...]
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[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble Updated: Sequoia Capital, arguably the smartest venture capital investor in business, is sounding the alarm and asking [...] [...]
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[...] morning I read Sequoia Rings the Alarm Bell…. It’s clear that raising [...]
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[...] לתוכניות הרדיו על מלחמת יום כיפור, הגיחו הדווחים על ישיבות ה”בור” בסיליקון ואלי - אצל רון קונוויי וסקוייה. [...]
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[...] I got on a plane to Martha’s Vineyard. And I don’t agree with bloggers who say Silicon Valley has been living on a bubble, thinking it won’t be affected by the crash. But posting videos of your fun Cyprus vacation [...]
7:08 PM PT
[...] attendees were greeted by a cute image of a Grave Stone, with a message: R.I.P.: Good Times,”Om Malik reports. More details [...]
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[...] From GigaOm [...]
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[...] Higginbotham, Thursday, October 9, 2008 at 9:01 PM PT Comments (0) Venture firms are sounding the alarm over what this current downturn might mean for their portfolio companies — and it’s not [...]
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[...] Sequoia Capital and Ron Conway communicated with their portfolio companies to guide them through troubled times. [...]
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[...] Malin reports on Sequoia Ventures sounding alarm bells for Silicon Valley start-ups. Sequoia asks its portfolio companies, reports Om, to buckle down for what could be the worst [...]
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[...] Yesterday Sequoia Capital and Ron Conway communicated with their portfolio companies to guide them through troubled times. [...]
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[...] - Start-Up News Posted by internet_startups on October 10, 2008 Internet Startup News Yesterday Sequoia Capital and Ron Conway communicated with their portfolio companies to guide them through troubled times. [...]
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[...] Internet-Startups haben es wegen der Finanzkrise schwer, Wagniskapitalgeber zu finden - oft springen Business Angels ein. handelsblatt.com, gigaom.com [...]
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[...] firms are sounding the alarm over what this current downturn might mean for their portfolio companies — and it’s not [...]
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[...] 昨日(米国時間10/8)はSequoia CapitalとRon Conwayが投資先企業に、困難な時期を乗り切るための指針のメッセージを送った。今日はBenchmark Capitalがこの戦列に加わり、ある筋によればパートナー総代のBill Gurleyが投資先企業たちにメールを送った(今年の初めのGurleyと新パートナーMatt Cohlerのインタビュー記事を呼んでみてください)。 [...]
3:56 AM PT
[...] when it starts hitting home at the foundation of the internet entrepreneur scene, as mentioned by Om Malik, all the start-ups need to listen [...]
4:24 AM PT
[...] similar note to his portfolio companies. GigaOm reports that Sequoia Capital called an all-hands, emergency meeting with its portfolio CEOs to walk through a recommended plan of action. I have received copies of [...]
6:15 AM PT
[...] Sequoia’s meeting of CEOs Tuesday to access and expound the meaning of survival. Based on the Gigaom exclusive “Sequoia Rings the Alarm Bell…” we here at Flypaper.tv have gathered [...]
7:26 AM PT
[...] die jetzt nach Startkapital suchen.” Könnte stimmen, denn erste Venture Capitalists warnen ebenfalls. Einen Schritt weiter geht Michael Arrington: Er verkündet auf TechCrunch das unwürdige [...]
7:43 AM PT
[...] the last eight years in a row. And like a growing number of highly respected venture capitalists, like Sequoia’s Michael Moritz, Haque is bracing for the [...]
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[...] the ever-so-bright VC’s thought to put out a memo to “the world” about tough times ahe…. Some are even predicting a forthcoming Apocalypse for Web 2.0 [...]
9:53 AM PT
[...] existiert. Banken, sowie der Finanzsektor haben anscheinend immer mehr Liquiditätsprobleme. Laut Om Malik, sollten alle Startups aufpassen, denn die aktuelle Finanzkriese könnte auch für sie gravierende [...]
10:05 AM PT
[...] capitalists are inciting Silicon Valley companies to switch to survival tactics. Om Malik on GigaOm writes that Sequoia Capital, arguably the smartest venture capital investor in business, is [...]
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[...] for venture-backed start-ups that Sequoia Capital gave to its portfolio companies this week. GigaOm’s Om Malik had a nice take on the story yesterday; VentureBeat has posted the PowerPoint slides from the Sequoia presentation, and I’ve [...]
10:59 AM PT
[...] what can start-ups do right now? Well Ron Conway, Benchmark Capital, and Sequoia have pretty clear ideas, as do any number of bloggers and pundits. But honestly the two most [...]
11:42 AM PT
[...] what can start-ups do right now? Well Ron Conway, Benchmark Capital, and Sequoia have pretty clear ideas, as do any number of bloggers and pundits. But honestly the two most [...]
2:46 PM PT
[...] Malik s pomocí svých zdrojů na GigaOM odhalil informace o srazu Sequoia Capital, na který tento zřejmě nejceněnější technologický venture [...]
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[...] se ha hablado ya de la presentación que hicieron los de Sequoia Capital a sus participadas titulada R.I.P.: Good times, en la que hablaron sobre la [...]
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[...] own — Sequoia Capital, among the smartest and most rational investors in the world — told its portfolio companies to cinch their belts tighter than ever, all hell broke [...]
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[...] a few people are talking about the tombstone Sequoia showed to their portfolio CEOs last week. We can’t argue with the message (either Halloween or [...]
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[...] own — Sequoia Capital, among the smartest and most rational investors in the world — told its portfolio companies to cinch their belts tighter than ever, all hell broke [...]
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[...] sequoia [...]
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[...] : Good Times Jump to Comments The good times are over, the partners of Sequoia Capital are telling the entrepreneurs they fund. The VCs are telling their [...]
5:24 AM PT
[...] swoje miliony od funduszy inwestycyjnych. Przestało być bajecznie więc zaczęto lamentować. Sequoia Capital bije na alarm i tnie koszta, a Seesmic zwolnił już 7 [...]
9:18 AM PT
[...] sono: tagliare i costi, cercare di arrivare subito ai profitti e spendere ogni dollaro come fosse l’ultimo. Sopravviverà solo chi sarà più veloce a tagliare le spese. Bisogna essere realisti o meglio [...]
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[...] capitalists are worried and urging their portfolio companies to enter survival mode. The layoffs have started. Michael Arrington has [...]
10:15 AM PT
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[...] of New York Angels. In light of the gyrations in the world’s capital markets, and particularly a Doomsday meeting that Sequoia Capital was reported to have had recently with their portfolio companies, Alan felt [...]
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[...] Om Malik had written last week that Sequoia held a meeting of all the entrepreneuers/CEOs of its portfolio companies and advised them to tighten their fiscal belts. Attendees were greeted with an image of a Grave Stone, with the following message: “R.I.P.: Good Times“. [...]
11:10 AM PT
[...] New York Angels. In light of the gyrations in the world’s capital markets, and particularly a Doomsday meeting that Sequoia Capital was reported to have had recently with their portfolio companies, Alan felt [...]
11:28 AM PT
[...] burst! Situation is as bad; actually worse. What with Sequoia starting presentations to CEOs with RIPs and Benchmark echoing the sentiment. It does’nt really matter though that Sequoia raised more [...]
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[...] the U.S. settles into what some predict is Depression 2.0, we are at the end of Web 2.0. Not Web 2.0 the technology - that’s still just at its [...]
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[...] Om Malik had written last week that Sequoia held a meeting of all the entrepreneuers/CEOs of its portfolio companies and advised them to tighten their fiscal belts. Attendees were greeted with an image of a Grave Stone, with the following message: “R.I.P.: Good Times“. [...]
9:42 PM PT
[...] companies. The tagline? “R.I.P.: Good Times”. You can check out this write-up on the GigaOM blog. Here’s an excerpt: They want the companies to cut costs, to figure out way to survive and [...]
5:13 AM PT
[...] Sequoia Rings the Alarm Bell: Silicon Valley Is in Trouble GIGAOM Sequoia Capital, arguably the smartest venture capital investor in business, is sounding the alarm and asking its portfolio companies to buckle down for what could be the worst economic downturn of their relatively short lives.The fund organized a meeting yesterday where it invited entreprenuers/CEOs from its portfolio companies. The attendees were greeted by a cute image of a Grave Stone, with a message: R.I.P.: Good Times, my sources tell me.I was able to confirm this with at least two sources. I am currently trying to nail down more details. Sequoia Capital declined to comment on the news. Source> [...]
10:15 AM PT
[...] already raised by lowering their “burn rate.” Angel investor Ron Conway, for example, sent his portfolio companies an email advising them to “lower [their] ‘burn rate’ to raise at least 3-6 months or more [...]
11:05 AM PT
[...] portfolio companies. The tagline? “R.I.P.: Good Times”. You can check out this write-up on the GigaOM blog. Here’s an excerpt: They want the companies to cut costs, to figure out way to survive and [...]
11:52 AM PT
[...] investor Ron Conway, for example, sent his portfolio companies an emai… advising them to “lower [their] ‘burn [...]
7:24 PM PT
[...] already raised by lowering their “burn rate.” Angel investor Ron Conway, for example, sent his portfolio companies an email advising them to “lower [their] ‘burn rate’ to raise at least 3-6 months or more [...]
7:56 PM PT
[...] they’ve already raised by lowering their “burn rate.” Angel investor Ron Conway, for example, sent his portfolio companies an email advising them to “lower [their] ‘burn rate’ to raise at least 3-6 months or more of funding [...]
10:34 AM PT
[...] Click here to read more about this presentation. Share and Enjoy: [...]
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[...] with, since we’re completely self-funded, we’re not worrying about reassuring anxious VCs or angel investors. We don’t have any non-founder employees (and we’re not paying [...]
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[...] Consejos de Sequoia VC para sus startups participadas por Om [...]
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[...] venture capital My favorite ad network is hitting some rough times thanks to the economy as Sequoia Capital asking its companies to buckle down and prepare for the [...]
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[...] now, you’ve probably heard about the grim tidings from VC meetings this month. If you haven’t, well, let’s just say your investors would like a [...]
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[...] Sequoia capital refused to officially comment the meet it was reported in tech world across blogs (Gigaom broke the news) and news sites. It has been reported that invitees were greeted to the meeting with [...]
3:02 PM PT
[...] czasami ulegam takim stanom) ale faktów się nie oszuka. Wielcy z VC właśnie biją w tarabany i radzą (za darmo!), że kryzys już zbiera żniwo, że trzeba zaciskać pasa i zacząć w końcu zarabiać [...]
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[...] Материал сайта GigaOm от 10 октября 2008. [...]
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[...] du web faite par les investisseurs américains, avec en chef de file Sequoia (voir l’article disponible sur GigaOm), la question de changer le nom de la conférence a été posée à Tim O’Reilly. La réponse [...]
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[...] buying, and corporations are putting spending on hold. As such, venture firms have been sowing panic among their portfolio companies, telling them to cut early and cut often. The resulting layoffs are already filtering through the [...]
9:00 AM PT
[...] our meeting had been planned several months ago, the fact that it came on the heels of some highly publicized admonishments by certain VCs to the CEOs of their portfolio companies to slash costs in order to survive the financial crisis [...]
3:52 AM PT
[...] Sobrevivir a la crisis (II): Aguantar tres años sin financiación En estos momentos ninguna start-up puede sobrevivir si depende de financiación externa (ya sean bancos o inversores). Y va a seguir [...]
7:13 AM PT
[...] obit was also carried on Om Malik’s blog GigaOm and in the LA Times. This was in an article in the Financial Times [...]
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[...] (link) [...]
6:35 PM PT
[...] The global economic downturn has started to take its toll on Silicon Valley, especially since the news of an emergency meeting Sequoia Capital held for its entrepreneurs, asking them to buckle up for the nausea inducing ride that lay ahead of them. In the weeks that [...]
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[...] many entrepreneurs who saw the now-famous “Sequoia deck” unfortunately took its conclusions to be a tenet of truth and acted on it — perhaps too [...]
4:06 PM PT
[...] global economic downturn has started to take its toll on Silicon Valley, especially since the news of an emergency meeting Sequoia Capital held for its entrepreneurs, asking them to buckle up for the nausea-inducing ride that lay ahead of them. In the weeks that [...]
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[...] Om October 8, 2008 | jason | 1tinyComb, yahoo [...]
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[...] Malik | Tuesday, December 2, 2008 | 10:24 PM PT | 0 comments A few months ago Sequoia Capital doused the ever ebullient Silicon Valley with a bucket of ice cold reality when it laid “good [...]
57 comments so far
5:33 PM PT
I’m not going to lie, that is daunting & scary to hear it from Sequoia who clearly know what they’re talking about. I think however, there was always going to come a time when this playground we called Web 2.0 came to an end and businesses with serious business models shone through. The ones without them - knuckle down and make some money…or clearly die.
5:39 PM PT
I’m not surprised, but I think that startups should run very learn and be doing all of this anyway regardless of market forecast/conditions - especially if they’re funded.
5:39 PM PT
oops - i mean “run very LEAN”
5:39 PM PT
Om, insightful post. People have been wondering about how VC’s will react, and I think you’re right that this is a good indicator.
5:43 PM PT
In a forest fire lots of trees burn, but not all trees. Scary times indeed.
5:45 PM PT
I sat in meetings with several prominent VC’s and angels, showed a 1000+ user survey with 99.9% favorable responses in favor of paying subscription fees for a mobile service vertical market venture. One qu