‘We’re likely to aspiration a minor less’: Sequoia’s Doug Leone on fallout from FTX’s collapse

‘We’re likely to aspiration a minor less’: Sequoia’s Doug Leone on fallout from FTX’s collapse


Crucial Details
  • Sequoia wrote down the value of its stake in FTX to zero very last week just after rival trade Binance’s withdrawal of an give to rescue the business remaining it going through individual bankruptcy.
  • Doug Leone, Sequoia’s international taking care of companion, reported FTX’s implosion may have an affect on its investing rules in the around term: “For the future a few to 6 months, we’re likely to desire a tiny less.”
  • Leone also claimed Sequoia experienced finished “thorough because of diligence” on FTX.
  • In a given that-deleted short article on Sequoia’s web page praising FTX founder Sam Bankman-Fried, it is exposed he was enjoying League of Legends even though on a Zoom simply call with Sequoia’s associates.



Supply

China releases AI action plan days after the U.S. as global tech race heats up
Finance

China releases AI action plan days after the U.S. as global tech race heats up

Key Points China on Saturday released a global action plan for artificial intelligence that called for international cooperation on tech development and regulation. Premier Li Qiang announced China has proposed the establishment of a global AI cooperation organization, according to an official readout. Former Google CEO Eric Schmidt met with Shanghai Party Secretary Chen Jining […]

Read More
Stocks making the biggest moves midday: Tesla, Intel, Deckers, Charter Communications and more
Finance

Stocks making the biggest moves midday: Tesla, Intel, Deckers, Charter Communications and more

Check out the companies making headlines in midday trading: Tesla – The electric vehicle maker’s stock jumped more than 4% after Business Insider reported that Tesla’s robotaxi service will debut in San Francisco as soon as this weekend. Even with the move, Tesla shares are down nearly 3% week to date. Charter Communications — The […]

Read More
Stocks making the biggest moves premarket: Intel, Centene, Deckers, Paramount and more
Finance

Stocks making the biggest moves premarket: Intel, Centene, Deckers, Paramount and more

Check out the companies making headlines before the bell: Intel — Shares of the chipmaker dropped more than 7% after Intel said it will cut 15% of its workforce and slashed plans for chip factory construction in an attempt to revitalize its artificial intelligence strategy. Intel topped second-quarter revenue results, posting $12.86 billion in revenue, […]

Read More