Doug Leone was not on this episode. A recording of them was played into it, so these
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Doug Leone, partner at Sequoia Capital, outlines internal risk management processes used by Sequoia to manage portfolio exposure during long bull markets.
0:00 / 0:17exact quote · 17.8s
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“One of the exercises I've asked, we run more than once at Sequoia. Let's take a fund two cycles ago where the companies are just coming up. How would we feel about those investments if the market just crashed by 30%? Let's figure out how many of those were momentum driven and how many of those are really quality companies.”
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More from Doug Leone
Opinion
Leone: Fast-paced funds doing five deals a week cannot build companies
“Product market fit is yours. We do everything else. You cannot do what we do if you're investing in five deals a week. There's no way to do that.”
Doug LeoneSep 14, 2021▶ 21:2520VC: Sequoia's Doug Leone on What Has Been Instrumental To Scaling Sequoia Over Generations, How Sequoia Think About International Expansion and What They Learned From China and India & Why When You Lose Pre-Seed You Become Private Equity
Opinion
Doug Leone: High-velocity VCs cannot provide genuine company-building support
“You cannot do what we do if you're investing in five deals a week. There's no way to do that.”
Doug LeoneFeb 23, 2022▶ 4:36The Tiger Global Memo: From Sequoia Capital to Benchmark and Thrive: The World's Best on the Rise of Tiger Global
Insight
Leone: High-performing organizations must operate as teams, not families
“In order to perform, we can't be a family. We all have family members we're stuck with. I know your family. I'm willing to bet you can point to a family members that is going to be a family member forever and is not a performer. I know we have a few in our fam…”
Doug LeoneSep 14, 2021▶ 11:1020VC: Sequoia's Doug Leone on What Has Been Instrumental To Scaling Sequoia Over Generations, How Sequoia Think About International Expansion and What They Learned From China and India & Why When You Lose Pre-Seed You Become Private Equity
Disclosure
Leone: Sequoia partners wanted to fire him after 24 months
“I will tell you there were people who wanted me out at Sequoia Capital after 24 months, and it was only through the good graces and good judgment I now say from Don Valentine that I'm still here.”
Doug LeoneSep 14, 2021▶ 13:1820VC: Sequoia's Doug Leone on What Has Been Instrumental To Scaling Sequoia Over Generations, How Sequoia Think About International Expansion and What They Learned From China and India & Why When You Lose Pre-Seed You Become Private Equity
Insight
Leone: VCs cannot help founders achieve product-market fit
“If you can't get product market fit, I doubt Sequoia Capital or any one of us can help. That is the black magic. That is really the art. Once you get product market fit, we can help you with everything else.”
Doug LeoneSep 14, 2021▶ 21:0320VC: Sequoia's Doug Leone on What Has Been Instrumental To Scaling Sequoia Over Generations, How Sequoia Think About International Expansion and What They Learned From China and India & Why When You Lose Pre-Seed You Become Private Equity
Insight
Leone: Seed investing is simply backing smart people in interesting areas
“What is seed investing is a smart person in a generally interesting area. That's it. There's no need to overthink it because they're going to zig and zag in ways that you can't predict.”
Doug LeoneSep 14, 2021▶ 26:4120VC: Sequoia's Doug Leone on What Has Been Instrumental To Scaling Sequoia Over Generations, How Sequoia Think About International Expansion and What They Learned From China and India & Why When You Lose Pre-Seed You Become Private Equity
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