NY Times has an interesting article on doom and gloom by Powerpoint originating out of Valley VCs.

Maybe it was the tombstone that did it. Even as Wall Street burned, Silicon Valley seemed strangely sanguine. Then a PowerPoint presentation from Sequoia Capital prophesying Armageddon — featuring an “R.I.P. Good Times” headstone — made the rounds. A month later, venture capital firms are slashing investments and counseling portfolio companies to cut jobs. Sequoia’s warning may reflect the technology industry’s woes, but it’s more notable for what it says about venture capital. (NY Times)