Of course, they have a vested interest in companies believing that this is going to be both an impactful and severe downturn, given they are capital providers. I'd take this with the appropriate grains of salt.
I'd take your comment with a much larger grain of salt. Be aware that all of Sequoia's existing VC investments are getting marked down drastically as well. Private company valuations don't just magically stay at above market levels when the public markets go down.
Disagree. They want to maximize the number of portfolio companies that survive in an environment where a significant fraction will not. This is a message that the money faucet has turned off, and that there will be pain - a timely breakdown of the ongoing macro effects. Note how "raise more money" is at the very bottom of suggested actions (pg35).
> Time to get your team's commitment for the path forward or... politely ask them to lighten the lifeboat