Why Sequoia Capital Did Not Invest in the Razor Pay

Sometimes an entity in a particular region couldn't really invest in a promising startup because, say, Sequoia Capital in the U.S. already had a competitor. There's a second reason I think that has to do with the person, the main investor in China, who's leading the China organization. And then perhaps most important and most interesting is just the geopolitics of it all. It's now maybe a good idea to stay out of each other's lanes.