The bell tolls in Silicon Valley. "RIP Good Times" was the epitaph that greeted elite Silicon Valley entrepreneurs - executives of companies invested in by Sequoia Capital of Menlo Park, California - at a meeting in October 2008. Sequoia is famous for having backed Apple, Cisco and Google, among others. In normal times, these executives would have been encouraged, as the valley's chosen ones, to focus on long-term strategic goals -market share, product development, international expansion. But Sequoia was telling them to forget all that. The recessionary motto is "spend every dollar as if it were your last".
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