Capital markets received a letter from Sequoia headquarters in the United States

estimates that a lot of people have seen it.

Sequoia Capital Company CEO:

is now a serious economic situation, Google, YAHOO and CISCO, the company’s share price plummeted recently. Google’s price earnings ratio has fallen to 20 times! P Similarly afflicted people pity each other. plunge. Do you know what this means? Sequoia’s partners have lost billions of dollars in net worth. In the past, the NASDAQ soared to 2500 points, our company has at least six billionaires. Now there is no one. That is to say, even though many of us would like to retire at the age of 50, it is still a lifelong goal. When can we see more than 10 billionaires ah!

there are things you should be aware of, we have stretched in front of investors. When the Internet bubble burst, the company had a similar situation. Although our founder, Don Valentine, predicted in 1999 that "there will be a lot of Internet companies falling down". But we were too confident, adhere to the investment Webvan and eToys, the results of investment boondoggle. We have to apologize to investors and admit their stupidity. Think about it, it’s too rare.

investment YouTube brings us $800 million in profits, investment in other Web 2 companies also let us profit millions of dollars. This gives us some relief. Now we have to ring the alarm. We need to reiterate some of the requirements and guidelines of Sequoia Capital for its investment companies:

1, market size and timing is everything! We don’t spend money to tell people why they like your product. Venture capital invested billions of dollars to help start-ups develop products that did not even have their own markets.

2, the importance of the first point we have to reiterate. In other words, the market is more important than you. As we want to say, we can not change the market opportunities, but we can change CEO.

3, our investment philosophy is to use a match lit the whole hell. If you don’t understand this parable, then I can use plain language to explain, it is cheap, cheap, cheap! For any start-up companies, there were only two tasks: "product" and "product sales". If your team has nothing to do with the above two thing, then fired him.

4, this also means that no high rent office, not extravagance and waste, do not open the party.

Young immigrants

5, hire talented. Their salaries are only slightly higher than the minimum, but they can work more than 100 hours a week. In fact, Sequoia Capital has a secret: red over the past 15 years

estimates that a lot of people have seen it.

Sequoia Capital Company CEO:

is now a serious economic situation, Google, YAHOO and CISCO, the company’s share price plummeted recently. Google’s price earnings ratio has fallen to 20 times! P Similarly afflicted people pity each other. plunge. Do you know what this means? Sequoia’s partners have lost billions of dollars in net worth. In the past, the NASDAQ soared to 2500 points, our company has at least six billionaires. Now there is no one. That is to say, even though many of us would like to retire at the age of 50, it is still a lifelong goal. When can we see more than 10 billionaires ah!

there are things you should be aware of, we have stretched in front of investors. When the Internet bubble burst, the company had a similar situation. Although our founder, Don Valentine, predicted in 1999 that "there will be a lot of Internet companies falling down". But we were too confident, adhere to the investment Webvan and eToys, the results of investment boondoggle. We have to apologize to investors and admit their stupidity. Think about it, it’s too rare.

investment YouTube brings us $800 million in profits, investment in other Web 2 companies also let us profit millions of dollars. This gives us some relief. Now we have to ring the alarm. We need to reiterate some of the requirements and guidelines of Sequoia Capital for its investment companies:

1, market size and timing is everything! We don’t spend money to tell people why they like your product. Venture capital invested billions of dollars to help start-ups develop products that did not even have their own markets.

2, the importance of the first point we have to reiterate. In other words, the market is more important than you. As we want to say, we can not change the market opportunities, but we can change CEO.

3, our investment philosophy is to use a match lit the whole hell. If you don’t understand this parable, then I can use plain language to explain, it is cheap, cheap, cheap! For any start-up companies, there were only two tasks: "product" and "product sales". If your team has nothing to do with the above two thing, then fired him.

4, this also means that no high rent office, not extravagance and waste, do not open the party.

Young immigrants

5, hire talented. Their salaries are only slightly higher than the minimum, but they can work more than 100 hours a week. In fact, Sequoia Capital has a secret: red over the past 15 years

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