According to this GIGA OM Article, Sequoia Capital (the big Venture Capital company) called an emergency meeting with all of the executives in their Portfolio of companies.

The execs were greeted with a big Tombstone that read:

"RIP: Good Times"

The meeting had 5 speakers. They were told to brace for the biggest economic downturn ever and were instructed to cut spending.

Sequoia know what getting burned is all about. Their last run in with a bear market was 2000-2001. Needless to say, they learned their lesson, and clearly do not want to repeat history.

The meeting was apparently dire, filled with data, historical experience and stern advice.

Its not hard to connect the dots and figure out what was advised. It would also be smart for Sequoia to utilize its portfolio of companies so that each of the firms intensify their assistance for each other, aiding or ensuring survival.

We'll be covering Venture options in Miami. We'll also cover the new valuations of social networking companies, as clearly there will emerge buyout opportunities from this market.

Marc Lesnick
Conference Organizer
SNC 2008