Maybe, but it still seems like a fairly valid point. The key is in Sequoia's msg being "strongly-worded", which it was. The presentation read like the author kn

Maybe, but it still seems like a fairly valid point. The key is in Sequoia's msg being "strongly-worded", which it was. The presentation read like the author knew the future for certain and that it was all bad news. In all likelihood, some partner had worked himself up into a tizzy and then got all the others whipped up too. Cuts were not necessarily advisable; I think a call to arms may have been in order, but not the drastic acts of desperation that they were calling for. No one knows anything: it's true. The more I claim that I'm sure of what's going to happen, the less you should believe me. That's this guy's point. Sequoia was full of it. Downturn? Sure. Downturn with a slow recovery and soup lines for a generation? Please.