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Get ready for a prolonged downturn that’s worse than 2000 or 2008, billionaire VC Doug Leone says

2022-11-24 10:27:22       source:CNBC

November 23, 2022

HELSINKI, Finland — American venture capitalist Doug Leone doesn’t think the tech wreck is going away anytime soon.

The Sequoia Capital partner gave a gloomy outlook for the global economy, warning that today’s downturn was worse than recessions in 2000 and 2008.

“The situation today I think is more difficult and more challenging than either ’08, which was really a protected financial services crisis, or 2000, which was a protected technology crisis,” Leone said, speaking onstage at the Slush startup conference in Helsinki.

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