TwirlyBurrito
TwirlyBurrito

Venture Capital layoffs

I heard that even VCs like Sequoia and Matrix Venture Partners are laying off people

Sequoia has laid off 3 Analysts, 1 VP and 1 associate and Matrix has laid off 5-6 people

Any thoughts? Is it true?

#layoffs

19mo ago
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JazzyWaffle
JazzyWaffle

That's interesting. Even I noticed that. But VC generally doesn't have "layoffs". It's more like consulting where it's up or out. At an analyst level. If you are out after 2 years, it's less layoff more that you couldn't make the jump or there was no space up there.

Associate and VP level could just be putting focus on core business (seed and Series A), and reducing the growth team size.

Just guessing

JazzyWaffle
JazzyWaffle

Would expect more layoffs on the web 3 side though. Overhired and not enough activity in the space, for a large team tracking the sector.

SnoozyPretzel
SnoozyPretzel
Google19mo

Makes sense. It’s not really layoffs but actually the up or out acting out

FloatingMuffin
FloatingMuffin

Both the VCs layoff had an incident behind them responsible for layoffs of 2-3 people.

The incident is too Pvt even for grapevine but ya VCs don’t usually Lay-off.

Matrix is even hiring for analysts again

FloatingMuffin
FloatingMuffin

Nope it’s not about portfolio returns or over hiring.

JazzyWaffle
JazzyWaffle

Yeah, these weren't structural issues

JazzyWaffle
JazzyWaffle

Interesting. Will try to find out more and report here.

On the 2nd point about business cycles, agree to disagree. Theoretically, you'd want folks to have seen bear markets, but it's a results driven business. Experience is always 2nd to outcomes. Unless you are high enough in the value chain. Not like I believe this is right, but it is a more common occurrence.

TwirlyBurrito
TwirlyBurrito

100% correct

FluffyPretzel
FluffyPretzel

Is that correct? Can anyone confirm?

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