Tony Zhao

The thing that's different is, my goodness, is their galactic level growth in these startups.

The demand is amazing.

The app level companies are absolutely ripping now.

And so it's an interesting time.

It's different than 99.

The second thing I would do is I would raise a lot more than I planned because if it is a bubble and it dips and it eventually comes back, you want enough to last through.

Those would be the two plays.

A little bit.

Yeah.

A lot of those companies in 2020, a lot of great companies just didn't kind of make it out.

They didn't raise enough.

They didn't make it through.

And if you look at 99 or the bubble era, you know, some good companies came out of there.

Google came out of there.

Amazon came out of there.

Salesforce.com came out of there.

Absolutely, there's so much founders can learn from Jerry Garcia and the Grateful Dead.

They have amazing track records.

And, like, I think of the stack as, like, the hardware, the labs, the infrastructure, the apps.

Sequoia is well positioned with amazing investments across all of them, particularly at the app level and particularly here in New York City.