Sequoia's Lin on Airbnb, DoorDash IPOs

The transcript covers a discussion on the market cap of Airbnb and DoorDash, with insights from a Sequoia board member. It explores the unexpected market reactions, the investment strategies of Sequoia, and the challenges faced during the pandemic. The conversation also touches on the Black Swan memo issued by Sequoia, which advised caution during the pandemic, and the subsequent market recovery.

What was the speaker's reaction to Airbnb's market cap doubling?

• They were disappointed with the market cap.

• They were surprised and thought it could have been priced higher.

• They expected it and were not surprised.

• They believed it was overvalued.

What is the primary focus of Sequoia's partnership with companies like Airbnb and DoorDash?

• Maximizing short-term profits

• Building enduring, category-defining companies

• Competing with other venture firms

• Expanding into new markets quickly

How does the speaker describe the market's response to Airbnb and DoorDash?

• Indifferent and uninterested

• Overly critical and negative

• Highly receptive with great potential

• Skeptical and cautious

What unique quality did Sequoia find in Airbnb's approach to travel?

• Offering the cheapest travel options

• Creating authentic travel experiences

• Focusing on luxury accommodations

• Partnering with large hotel chains

What was a key factor in Sequoia's decision to invest in DoorDash?

• Their partnership with large restaurant chains

• Their focus on urban areas

• Their low-cost delivery model

• Their strategic focus on merchants and suburbs

What was the purpose of Sequoia's Black Swan memo?

• To announce new investment opportunities

• To predict the end of the pandemic

• To encourage companies to expand rapidly

• To warn companies to conserve cash and reassess strategies

How did companies respond to the Black Swan memo according to the speaker?

• They expanded their operations

• They immediately cut all expenses

• They became hypervigilant and reassessed their strategies

• They ignored it and continued as usual