You need some serious perspective, they just got 2x return in a few months. They can, I don't know, re-invest the money perhaps?
And you're cherry picking out one of many Sequoia funds (and still a successful one at that) to point at to call VC life hard? A dot-com period fund as well?
How many other hit funds have they had?
Sequoia estimates that 19% of the NASDAQ’s value is made up of firms they have funded.
In many (pretty much all) funds, you can't re-invest capital earned from the fund.
I recommend checking out the book 'Venture Deals' by Brad Feld and Jason Mendelson. They explain the various structures of funds, why they're structured that way, and how it influences the decisions the investors make.
And you're cherry picking out one of many Sequoia funds (and still a successful one at that) to point at to call VC life hard? A dot-com period fund as well?
How many other hit funds have they had?
Sequoia estimates that 19% of the NASDAQ’s value is made up of firms they have funded.