Sequoia Capital memo to their portfolio founders on Coronavirus
Calling COVID-19 a “black swan” is an abuse of the term, IMO. Zika in 2016, Ebola in 2014, MERS in 2012, H1N1 in 2009, SARS in 2002, HIV in 1980, H3N2 in 1968, H2N2 in 1957.... A viral disease outbreak, like a stock market crash, is very hard to time precisely, but everybody knows that it’s a thing that happens regularly. That’s the exact opposite of a black swan; if it’s something you didn’t plan for, well, that’s on you.