They now seem to have a very different attitude toward losing $ compared to the early partners of Sequoia who built the franchise with the legendary track record of $T+ market cap companies. Don Valentine famously told Jensen Huang, if you lose my money I’m going to kill you. One of the things that made Sequoia great was that they simply HATED losing money. If you take care of the downside the upside takes of itself. That’s certainly NOT the motto at any major VC firm these days.