I don't think any Sequoia fund has returned less than 8x in the last 20 years. That's better than the total US market or the S&P 500 from the low of the Great R

I don't think any Sequoia fund has returned less than 8x in the last 20 years. That's better than the total US market or the S&P 500 from the low of the Great Recession to the inflation-fueled peak of the pandemic (7.1x and 6.3x respectively), which is a cherry-picked, unprecedented 13-year stretch compared to the worst-performing fund's 10 years. FTX-sized failures are expected and part of their operating model.