Hello there. It's Eric Erikson here. The phone number is 877977-9-373-7-425. If you would like to be on the program, the phone lines are open. We are moving beyond the school shooting, though. We have to because, well, people are outraged, and I don't blame people for being outraged,

but it's not leading to constructive phone calls.

Put it you that way.

I want to talk about the public school uprisings that are happening on school boards.

Before we get there, though, I really, this honestly, in the grand scheme of things, the story I got to talk about here

is more important than that. And so I'm going to do this first. Sequoia Capital is one of

those big groups out there, financial groups.

They're involved in a lot of tech stuff, among other things.

And they're saying the good times are coming to an end.

Or venture capital firm.

This is from Bloomberg.

Calling the current environment a crucible

moment, Sequoia Capital warned that the good times are not only over, there's no indication

when they'll return. In a Zoom call earlier this month with the founders of its approximately

250 portfolio companies, the venture firm reviewed a 50-page presentation titled

Adapting to Endure. Sequoia laid out the case for a long and drawn-out recession

and instructed founders to do the cut exercise immediately if they haven't already done so

by examining ways to conserve cash through eliminating or scaling back projects, R&D, marketing, or other expenses.

It doesn't mean you have to pull the trigger, but that you're ready to do it in the next 30 days if needed.

Minlo Park, California, Bay, Sequoia wrote in the presentation.

The information earlier reported the presentation, an increasing number of late-stage

private tech companies, the same ones that were bankrolled by investors to grow at all costs,

...