“You’re about to see (the China) bubble burst in the next five years, or sooner, that will make our bubble look meaningless,” Sequoia Capital partner Don Valentine said at a panel discussion in Palo Alto sponsored by Silicon Valley Bank.
According to SJ Mercury News report (in two versions here and here), Valentine’s recent trip to China (as part of a SV Bank led delegation) had “only confirmed his view that Sequoia should stay away from direct investments there”.
“China has no laws, no accounting system, bankrupt banks, and according to Fortune, a stock market that is made up of a den of thieves — different from the ones on Wall Street.”
