Botha: Broadly investing in venture capital is 'return-free risk'
Roelof Botha · Sequoia’s Roelof Botha: Why Venture Capital is Broken & How Great Companies Are Built · Oct 9, 2025 · at 4:58
Sequoia Capital Managing Partner Roelof Botha argues that excessive venture capital deployment prevents the industry as a whole from delivering adequate net returns.
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“So in my opinion, investing in venture is a return free risk.”
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