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Sequoia to Startups: R.I.P.

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Oct 9, 2008 

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Kathleen  |

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Sequoia to Startups: R.I.P.

ADOTAS – It looks like startups are in for a rough ride – news that probably doesn’t come as a shock to anyone considering the recent financial meltdown, but the extent of the projected damage may surprise some.

According to several reports, notoriously generous startup-backers Sequoia Capital are putting on the brakes. The company’s partners recently sent out an invite to its entrepreneurs for an emergency summit. The summons contained a picture of a gravestone that reads: “R.I.P., Good Times.”

Attendees have kept many of the details under wraps but the message was clear: cut costs, prepare for a long downturn and make businesses self-sustainable.

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