This is a presentation Sequoia Capital gave to all the CEOs of the companies it funds.

What gets me is that this is exactly the same thing they were saying in 2001/2. If this message ever changed from "control costs and get profitable immediately" to "you can use venture capital to build an idea into a business over time" I never got the memo. Clearly the later sort of company has recently appeared on the scene, but just recently, and with a lot of skepticism from those of us who have been around the way. But I guess thats over now. Back to the same old message of "if you actually need venture capital you're not the sort of company investors are looking to fund."

I really think innovation should be less tied to the business cycle...

Sequoia Capital on startups and the economic downturn