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by andrestan 2928 days ago
Most likely credibility, publicity, connections and mentorship that major VCs provide.
1 comments

What kind of mentorship would the management of a company that is doing $4B/year in sales need? I don't mean that sarcastically. I would have thought, "clearly these people figured it out."
It's funny you should say that. Bitmain has dealt very poorly with western miners and developers and repeatedly blamed those "misunderstandings" on "cultural gaps". In the short term they don't need to solve this problem, but one day I expect the pitchforks to catch up with them.
A great example of an executive who has led the rapid development of a business but drastically needed more mentorship would be Travis Kalanik formerly of Uber. Running a large and successful company well is much, much more than just generating revenue and valuation.
Didn't Sequoia invest in them too? You might be right but this is not the best example lol
Second that. Outside of HN an average person, or probably north of 95% Uber riders, neither heard nor care/cared about internal problems at Uber. None of those problems really reflected on qualty of services they provide to the final consumer.
That's untrue. Uber lost huge amounts of market share due to the scandals in 2017.
Sequoia (US) and Sequoia China are separate funds. They share the same brand and work together on some areas, but the funds are separate and the LPs are not the same (some LPs may invest in both funds but not necessarily.)
How did that mentorship work out...
>Running a large and successful company

Loosing money buy truckloads every day === success?

Being evil. This is the group that invested in LinkedIn, PayPal and now recently Facebook after the scandals. If they went out of business, all I would say is, lol
I randomly speculated that this might help them evade some of the financial control inposed by the government?
Given 1) China's recent push for domestic hardware after the ZTE wake up call 2) Impending slow down in crypto mining hardware sales, the VC's connections will be invaluable for diversifying into other hardware products.
Something to get them to $40B/year?