Sequoof bottha botha warns’ does not buy to the spvs

One of the most important investors sequoia, managing roelof bother’s pair, see other cycle alerts to the most advanced efforts in the most sophisticated efforts, where the most sophisticated investors will be able to grow. They are sending on x on Thursday, writing, “We remained to repeat the latest air capital, but only 3 years.” (They are tightly emoji-helji elasticated.) In 2022 years, the VC market that overheated 2021 crash. The fans are still continuing, with the 2025 expected to be the rest of the year the most from the beginning of failure. Botha is a special warning about a special purpose vehicle (SPVs) – structure allowing an opening investor to sell access to the shares for the shares for others. But the new investors do not actually buy stock at first; They bought the stock on SPV, often inflated price. That means the expert must be lit for some SPV stock owners. SPV becomes mainly common in AI investment, where some starters are producing astronomy. Search Search Sekether finds at least nine spvs tied to an antroproproproparish since 2024 himself. The company is reported in speech to raise $ 3.5 billion more. Ai attempt to produce $ 1.5 billion is also reported full of SPV, each of these information. Remember, there are no companies in the portfolio of Sequoia. The trend is not limited only some companies. Nearly every major AI multi-billion company has an investor that offers SPV. And if the Firm Firm Big-Big – says, Sequoia’s Archrival Andressenen Horowitz – they are the result, the name can only temporarily temporarily buy the buyer. One person involved in the Secondaries market described this spv-laden offer: “She tells all the hats that can not find the best VC investor, ‘although the worst company cannot produce money from traditional VCS.” Botha’s message to this will be investors? “Don’t buy.” Sequoia is not directly in response to a more complete request.

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