With venerable VC firm Sequoia Capital leading a $41 million investment in a pre-launch mobile application -- and with everyone screaming we're in another tech bubble -- we've decided to take a look back at its "RIP Good Times" report from October 2008.

In the report, Sequoia warned the sky was about to fall, and startups should prepare for a very long and hard future.

The presentation sent a scare through the entire world of tech, but the gloom and doom it outlined never fully materialized in tech.

Today, the general economy remains in a malaise, but for the world of startups nothing could be further from "RIP Good Times."

In fact, it's closer to "let the good times roll," as evidenced by Color raising $41 million on the strength of its team and its idea.

Of course, there are a lot of worrywarts who see Color's funding, as well as the growing valuations for startups, as signs that we're in a bubble. And those people think the bubble is going to burst.

For those people, we've pulled the key slides Sequoia used to scare the bejesus out of its portfolio companies. If you think we're in another bubble, then you better take a look at Sequoia's doom report and see if startups are following its advice.

This was the scary opening slide

After talking about the macro environment, Sequoia tackled what startups should think about.

This is true!

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• Google Gets An Absurd Patent For Its "Google Doodles"

Source: http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/Zku4mHSBPIQ/sequoia-rip-good-times-2011-3

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