Sequoia closes London office and restructures to act like a startup

TL;DR ELI5 of Sequoia's new "Sequoia of Tomorrow" memo: the most famous VC firm of the last 50 years is cutting itself down to fight like a startup again. 🎯 Focus: they're going back to the one thing they're best at, which is picking a few companies they really believe in and going all in. The accelerator and the scouts program are dead, and the teams are smaller. More support for fewer founders ⏰ 24/7: the Monday partner meeting is gone. Founders don't work on a weekly schedule, so Sequoia won't make them wait for one 🤝 One team: no more separate "Early" and "Growth" groups. It's just Sequoia, so founders don't get passed between teams as they grow 🇬🇧 London is closing: they say the people there are great, they just don't need an office there. Europe will still produce huge…

JUST IN: Sequoia are closing their European base in London, with key partners leaving the firm, per Bloomberg.