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R.I.P. Good Times? A Different Perspective on the Downturn 2882 Sand Hill Road, Suite 100  Brendon Kim / bkim@altosventures.com Menlo Park, California 94025 Han Kim / hkim@altosventures.com  (650) 234-9771 Ho Nam / hnam@altosventures.com www.altosventures.com  Anthony Lee / alee@altosventures.com
Slides from Sequoia Presentation to CEOs, October 7, 2008 Widely publicized meeting was “very somber…”
Boom and Busts: Been there before! (just a sampling over past 178 years) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Is This a Good Time to Jump?
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Less Cash Required Than Ever  to Build Great Companies Yet most of the biggest tech homeruns have raised less than $10M (or none at all) ,[object Object],[object Object],The U.S. venture industry has been investing at near-record levels 1997 2007 $13M $66M Median VC raised prior to IPO ($M) Total U.S. VC investment ($B) 1997 2007 $13B $30B
[object Object],[object Object],[object Object],Fox or Hedgehog?
If You Are Ready to Jump… We’re still open for business: # of new companies in 1 st  Half 2008: 2 # of new companies in 2 nd  Half 2008: 6+ 2882 Sand Hill Road, Suite 100  Brendon Kim / bkim@altosventures.com Menlo Park, California 94025 Han Kim / hkim@altosventures.com  (650) 234-9771 Ho Nam / hnam@altosventures.com www.altosventures.com  Anthony Lee / alee@altosventures.com
[object Object],[object Object],[object Object],What we look for beyond Capital Efficiency  and  Hedgehogs
You Think This is Bad?? How about 24.9% unemployment (vs. 6.1?%)
[object Object],[object Object],[object Object],[object Object],Lessons from Helzberg Diamonds

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A Different Perspective on Economic Downturns

  • 1. R.I.P. Good Times? A Different Perspective on the Downturn 2882 Sand Hill Road, Suite 100 Brendon Kim / bkim@altosventures.com Menlo Park, California 94025 Han Kim / hkim@altosventures.com (650) 234-9771 Ho Nam / hnam@altosventures.com www.altosventures.com Anthony Lee / alee@altosventures.com
  • 2. Slides from Sequoia Presentation to CEOs, October 7, 2008 Widely publicized meeting was “very somber…”
  • 3.
  • 4. Is This a Good Time to Jump?
  • 5.
  • 6.
  • 7.
  • 8.
  • 9. If You Are Ready to Jump… We’re still open for business: # of new companies in 1 st Half 2008: 2 # of new companies in 2 nd Half 2008: 6+ 2882 Sand Hill Road, Suite 100 Brendon Kim / bkim@altosventures.com Menlo Park, California 94025 Han Kim / hkim@altosventures.com (650) 234-9771 Ho Nam / hnam@altosventures.com www.altosventures.com Anthony Lee / alee@altosventures.com
  • 10.
  • 11. You Think This is Bad?? How about 24.9% unemployment (vs. 6.1?%)
  • 12.