Two prominent investors have communicated a similar, ominous message to their companies this week in light of the financial crisis on Wall Street: buckle up, because it’s going to be a bumpy ride.
Sequoia Capital (who has backed YouTube among its other ventures) held a meeting yesterday explaining ways companies could cut costs, where entrepreneurs and CEOs were greeted with an image reading “R.I.P: Good Times,” reports GigaOM.
And angel investor Ron Conway emailed a warning to his portfolio companies explaining that raising capital will now be much more difficult, reports TechCrunch (who posted the emails in their entirety).
“Unlike the turmoil of 2000 when the 'action' was centered right here in Silicon Valley this time is it centered on Wall Street…..but it has rippled to the west coast quickly and we will not be 'immune' to its drastic effects,” Conway writes.
VentureBeat reports that the Sequoia speakers – which included Michael Mortiz – were not fear mongering, but simply explaining, with data to back up their predictions, that the downturn could last many years.
We reached out to Sequoia for more details on the meeting and will update with more info as soon as we hear back.
Photo: Flickr/areyoumyrik
