From Sequoia's perspective this was a win-win. First off, the incentivize structure for Sequoia is simple. They want to raise money, everything they do is base

From Sequoia's perspective this was a win-win. First off, the incentivize structure for Sequoia is simple. They want to raise money, everything they do is based around raising more and more money. So in 2008, when there was a chance of a depression, there were only 2 outcomes (the depression hits or no depression). If there was no depression no one cares about what you said in 2008 because everyone is making money so Sequoia can raise more money. If there is a depression Sequoia can refer back to this presentation and say, "Hey! We called it." and then they gain credibility and have an easier time raising money in a downturn. It's a win-win for them.