How Sequoia's Alfred Lin and Pat Grady erased Roelof Botha's legacy, halving GPs and unwinding his fund; sources say he joined SpaceX's board behind their backs
THE SO WHAT
Sequoia cutting GPs and unwinding the permanent capital fund is another data point that even top-tier firms are simplifying structures and concentrating decision power. For founders, this means fewer partners with bigger checkbooks and sharper theses — relationship depth with the remaining GPs matters more than ever.
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