Call me a marxist, but the first thought that came to mind when I read this, is "Are the LPs (correction: GPs) at Sequoia going to get frugal?" Is Mike Moritz going to reduce his (most likely seven digit) salary?
Since the general partner has full liability for all financial obligations, I imagine the general partner would be another limited liability type firm and Moritz would be an executive hired by the general partner entity.
Aren't these guys paid as a percentage of profits and funds managed? In that case, presumably, there will be fewer startups when there is less funding implying fewer gains which implies a lower salary for him.
