Part I — The story
The story
Michael Moritz became one of the most successful venture capitalists of all time at Sequoia Capital, with an extraordinary record of early bets — Yahoo, Google, PayPal and more — that helped define the internet era and generated legendary returns. A former journalist who had written about Apple, he brought a storyteller's eye for people and narrative to identifying exceptional founders.
Moritz's edge was judgement about founders and markets at the earliest, most uncertain stages, and the discipline to back conviction heavily. He also helped lead Sequoia's evolution into a global, enduring institution — building a firm designed to compound success across generations of partners, not just ride one era.
Moritz represents venture capital at its highest level — exceptional judgement about founders at the earliest stage, conviction to back it, and the institution-building that turns individual success into an enduring firm.
Part II — The playbook
The playbook
Judge founders, not just markets
Moritz backed exceptional people at the earliest stage.
Back conviction heavily
He committed strongly when judgement and evidence aligned.
Build an enduring institution
He helped make Sequoia last beyond any one era or partner.
In their words
The biggest returns come from the most contrarian bets.
We're in the business of backing exceptional people.
Every company we back is a leap of faith in a founder.
What to read next
- The Everything Store — Brad Stone
Why this matters
The thinking behind these decisions connects to models you can study directly:
Frequently asked questions
What is Michael Moritz known for?
Being one of the most successful venture capitalists ever at Sequoia Capital, with early era-defining bets on Yahoo, Google and PayPal, and for helping build Sequoia into a lasting global institution.
What was Moritz's edge?
Exceptional judgement about founders and markets at the earliest, most uncertain stages — sharpened by his background as a journalist — plus the conviction to back it heavily.