Biz advice from Silicon Valley VC firm: cut back now

This slideshow from the major venture capital firm Sequoia Capital was apparently shown to a bunch of Silicon Valley CEOs and is now making the rounds on the internet. The slideshow describes how we got into this economic mess and predicts that the recovery will be slow. Their recommendation to technology firms: reduce costs (including staff) sooner rather than later if they want to survive the downturn.

James Fallows has more here and here.