Michael Moritz on the VC Long Game at Stanford GSB

Earlier this year Michael Moritz shared how Sequoia Capital does venture capital at the Stanford Business School’s View from the Top.

Moritz takes an extended view when it comes to both investment and the search for young talent. His relationships with companies including Google, Airbnb, and Stripe have spanned 10 to 20 years.

“These are very, very long journeys that we’re on,” he says. “It takes time and patience and spectacular people and a massive market opportunity to build the real companies that matter and have an influence and great impact on society.”

That same patience goes into locating and nurturing young, high-potential individuals at Sequoia.

“Assuming people like that flourish, you have incredible loyalty, and they’ll stay with you forever,” says Moritz. “It’s worked spectacularly for us; we have people like Roelof Botha, who’s a graduate of the GSB. He went to PayPal, and after PayPal, he joined Sequoia, and that was probably 17 or 18 years ago. He’s just spectacular, and he’s just one example.”

Sequoia’s Michael Moritz: Look out for “the Unexpected”

With the upcoming tech IPOs, Sequoia Capital will soon be rewarded for cultivating those long-term relationships with founders.

Airbnb is expected to go public sometime in the next year, following a bumper crop of initial public offerings that began on Friday with the ride-hailing company Lyft. Uber, Pinterest, Slack and others are also expected to list their shares in the next few months.

These offerings will likely mint many venture capital winners, generating huge returns for those who wrote the early checks to these companies.

These Silicon Valley Investors’ Bets May Pay Off, The New York Times

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Post by Marcelino Pantoja