Correction, your interpretation is that it says: Economic conditions vary. In bad times you can't take as much risk. Bad times are here. Stop taking risks. Tha

Correction, your interpretation is that it says: Economic conditions vary. In bad times you can't take as much risk. Bad times are here. Stop taking risks. That said, the presentation says what it says; it talks about the what happened, how we got here, how it's gonna be like what (their) companies are supposed to do now. And what they're supposed to do now, is exactly what any sane company (outside of SV perhaps?) would be doing from the minute they open shop.