$GENDIAG - Genetic diagnostics sector has been a huge success with ongoing dividends from genomic advances, exemplified by portfolio company Natera's growth from $1M seed to $22B market cap as the leading provider of prenatal testing, oncology recurrence monitoring, and organ transplant protection testing
$PANW - Palo Alto Networks, incubated inside Sequoia's office, has achieved 10x returns as a public company, exemplifying the value of holding winners longer post-IPO
$NOW - ServiceNow has achieved 10x returns as a public company, demonstrating the value of patient capital and holding positions longer post-IPO
$MDB - MongoDB has achieved 10x returns as a public company, justifying Sequoia's new strategy of holding positions longer post-IPO
$HUBS - HubSpot has achieved 10x returns as a public company, demonstrating the value of patient capital in the public markets
$STABLES - Portfolio company thriving due to favorable stablecoin regulation, benefiting from regulatory clarity in the space
$LATAMTECH - Chinese entrepreneurs are migrating to Latin America and other markets, bringing entrepreneurial talent and potentially creating new opportunities in these regions
Bearish:
$VC - Venture capital is 'return free risk' with the industry needing $700B+ in annual returns but only ~20 companies per decade achieving $1B+ exits, making it a poor investment for most investors
$CHINASTARTUP - Chinese startup ecosystem has collapsed with a 98% reduction in company formations from 51,000 in 2018 to just 1,200 in 2023 due to regulatory uncertainty