Acquired Sequoia Capital (Part 1)
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Sep 26, 2019 Discover the inspiring journey of Don Valentine, the visionary behind Sequoia Capital, starting from his modest beginnings in Yonkers. Learn how he shaped Silicon Valley through pioneering 'company building' strategies. Uncover the fascinating origins of Fairchild Semiconductor and the 'Traitorous Eight,' who sparked a tech revolution in 1957. Delve into Sequoia's strategic investments in giants like Cisco and Apple, and explore the evolving dynamics between founders and venture capitalists, emphasizing long-term partnerships over financial transactions.
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Markets Over Founders
- Don Valentine prioritized investing in markets, not just founders, believing strong markets could elevate any team.
- Sequoia's first investment was in Atari, yielding a 4x return after its acquisition.
Apple Investment
- Sequoia invested in Apple in 1977, but sold their stake early for a 40x return to make a tax distribution to LPs.
- This costly lesson led Sequoia to prioritize long-term, tax-exempt LPs.
Long-Term Vision
- Sequoia's Apple experience taught them the importance of long-term investments and letting winners run.
- They shifted their strategy to hold onto public company shares longer.
