Sequoia’s Swedish Drama; What Walmart-Vizio Deal Means for Amazon

You might not have expected Klarna, the Sweden-based original “buy now, pay later” lender, to be the setting for a “Succession”-caliber soap opera—but hey, Sweden also produces lots of dramas for streaming TV. The real-life one we’re talking about centers on Sequoia Capital’s ham-handed efforts to remove its highly respected former partner, Michael Moritz, from Klarna’s board, news of which we scooped last week. Today we broke the news that Sequoia has reversed itself. Instead of Moritz leaving the board, Sequoia’s representative, partner Matthew Miller, is the one to depart. (He'll be replaced).

A lot more will come out about this episode. But Sequoia chief Roelof Botha appears to have an entire omelet (with cheese) on his face. Botha told Klarna shareholders the firm had realized its “understanding of the situation was wrong.” Just imagine the back-and-forth that produced this reversal. As for Klarna, it wants shareholders to know it is “swiftly approaching” an IPO. In other words, there’s enough action here for a full-season show. Bill Nighy is a natural to play Moritz, while Matt Damon could play Botha. Someone call Ted Sarandos!