Redpoint’s Geoff Yang Corrects Bloomberg Story (After I Ask Nosy Questions About It)
Earlier today, Bloomberg published a story about how Redpoint Ventures, which famously backed MySpace in 2005, is telling its startups to cut their staffs by 10 percent. The report said the firm “gave the job-cutting advice at a conference of its portfolio companies and limited partners last week,” citing Redpoint's Geoff Yang as the source. Considering that most firms had similar sit-downs with their portfolio companies beginning last October, I asked Yang tonight about the timing, as well as whether blanket advice to cut jobs couldn’t, in some cases, undermine the value of Redpoint’s portfolio companies. He got back to me almost immediately via email.
13 February 2009•2 mins read
