WHAT THEY SAID:
"Today, Sequoia Capital hosted a mandatory CEO All-Hands Meeting on Sand Hill Road (where else?). There were about 100 CEO's in attendance and let me tell you, the mood was somber. I'm not one to perpetuate doom and gloom or bad news, but let me underscore this for you: We are in a serious economic downturn and this is just the beginning. Immediate, decisive and swift action is required, along with frugal, day-to-day management of expenses and our business is required.
Slide projected on the huge conference room screen as people assembled inside the conference center to take their seats: a gravestone with the inscription: RIP, Good Times.
The only time Sequoia's assembled all CEO's like this was during the dot.com crash...."
WHAT THEY PLAN TO DO:
* Cut unnecessary spending, immediately.
* Focus on quality.
* Sharpen the point of their marketing message.
* Rely on aggressive PR and communications.