We cover Sequoia Capital a lot on this show. Not only across our now four(!) dedicated episodes, but across a stunning nearly 50% of recent season companies where Sequoia was a primary or only investor — the most of any venture firm by an enormous margin. Today in this very special episode, we dive into the principles that have led to the firm's 49 years of unparalleled success in venture, and the playbook behind how they identify markets and companies that create outcomes worthy of the firm's namesake tree.Sponsors:WorkOS: https://bit.ly/workos25Huntress: https://bit.ly/acqhuntressStatsig: https://bit.ly/acquiredstatsig24More Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCThe Sequoia Capital Playbook is available on our website at https://www.acquired.fm/episodes/special-sequoia-capitals-investment-playbook-with-alfred-linLinks:Our two-part Sequoia history: Part I: https://www.acquired.fm/episodes/sequoia-capital-part-1Part II:  https://www.acquired.fm/episodes/sequoia-capital-part-ii-with-doug-leoneDon Valentine's talk at Stanford GSB: https://www.youtube.com/watch?v=nKN-abRJMEw&t=2555sOur conversation about Sequoia's Black Swan Memo with Roelof Botha: https://www.acquired.fm/episodes/sequoias-black-swan-memo

Alfred Lin, Partner at Sequoia Capital for over 13 years, talks about Sequoia's strategy and operations. They discuss why they don't track A-U-M, the launch of the Sequoia Capital Fund, and the decision-making behind creating Sequoia Arc. They also explore the importance of firm building, the business models of Y Combinator and Sequoia Capital, and the future of venture capital. Additionally, they touch on dedication, teamwork, learning in founder and investor success, incubation in venture firms, and decision-making under uncertainty.

Tony Xu, the Founder and CEO of DoorDash, shares fascinating insights into how he built a delivery giant despite immense skepticism. Alongside Sequoia Capital's Alfred Lin and DoorDash's Keith Yandell, they discuss the pivotal decisions that propelled DoorDash, especially their focus on suburbia and local businesses. They explore the challenges of fundraising, navigating financial strains, and cultivating resilience during tough times. The conversation delves into how the pandemic became an unexpected opportunity for growth and innovation.