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Sequoia capital published this. That should be in the title. Without knowing that this was a real article published by real people at Sequoia a couple of months
by _bqrf 4y ago
Sequoia capital published this. That should be in the title. Without knowing that this was a real article published by real people at Sequoia a couple of months ago, this reads like a try-hard troll. No! It’s real! (Sequoia is like the Stanford of venture capital and is one of ftx’s biggest investors)
- davidgerard 4y agoAnd then quietly deleted it, lol.
- JamesianP 4y agoWhich is somehow even more embarrassing.
- clpm4j 4y agoStill crickets from the Sequoia partners (Alfred Lin, Michelle Bailhe) who backed and hyped FTX and SBF.
- _bqrf 4y agoNot silence. Sequoia posted a letter declaring that their FTX investment is $0 and that this is not a notable fraction of their portfolio. FTX may have been a theoretically sound investment for Sequoia because many venture investments are marked to $0, and FTX got to huge-or-zero much faster than any other investment. A company that slowly goes to $0 is equally bad but worse for time-value. What hurts my brain is that theoretically this investment strategy is sound, but the implementation of it looks like: FTX. It's horrific. It's like total war logic. Logically it works, probabilistically it's reasonable, living it is grotesque and insane.
- clpm4j 4y agoYeah I saw that, but I meant directly from Alfred or Michelle (both had been vocal advocates on Twitter prior to this blowup).
- totalZero 4y ago> A company that slowly goes to $0 Either way, the forward is 0. I'd rather see a company run itself aground by paying its employees and slowly bleeding money than to see it fail due to mis-valuation of its holdings. The former is unfortunate, but the latter is an embarrassment for all stakeholders.
- deleted 4y ago[deleted]