[villasv]

TL;DR venture capital is becoming regular capital because tech companies keep growing fast well after the IPO; “the next big thing” is not coming on the short term, just more techy companies surfing VC money and more growth for tech companies; the current cycle is not yet ripe for disruption.

[orky56]

The traditional model of plant for 5 years and harvest for 5 years is dying/dead. Seed investments are getting larger and bleeding into Series A. Companies are staying private for longer. Liquidation events can be pushed further out without compromising growth. Sequoia Productive Capital makes the 10 year cycle less important. This allows Sequoia to focus on sourcing deals and reallocating capital accordingly to deliver results, which they have been consistent enough to keep acquiring capital from LPs. We are also seeing outsized returns on existing investments so sticking around for Series D/E/etc. and multiple years post-IPO might be key to get the 50-100+x returns.

[djyaz1200]

Thank you for the TL;DR

[echelon]

Because the current cycle's incumbents monopolize every tech market with value.

FAAMG can staff up a team to clone your product if they think you're onto something.

[streetcat1]

No they cannot, look at snowflake for example, easily eating big query and red shift.

Two things lack in FANNG:

1) Focus. 2) Politics.