Sequoia’s Botha: ‘Tourist Money’ Keeping Weak Firms Afloat

Venture capitalists Roelof Botha and Sam Altman make a living putting money into technology startups. But they both think one of the problems facing Silicon Valley is there’s too much money pouring into tech startups.

Tech companies that shouldn’t exist continue to exist, said Mr. Botha, a partner at Sequoia Capital, and that means talent gets hoarded in the wrong places. “Talent is not being deployed for a better use,” he said, speaking on stage with Mr. Altman at The Information’s San Francisco Subscriber Summit on Friday.