I just received the following document, which describes a meeting Sequoia Capital had with the CEOs of all their companies. While I was not in attendance myself, I have every reason to believe things happened substantively as described:
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…Today, Sequoia Capital hosted a mandatory CEO All-Hands Meeting on Sand Hill Road (where else?). There were about 100 CEO’s in attendance and let me tell you, the mood was somber. I’m not one to perpetuate doom