As many of you probably read, Sequoia Capital called a meeting of 100 CEOs last week to discuss the economic climate and what that means for start ups. The message was a warning. The outlook on the economy is grim, but, unlike the bubble burst in 2000, this was not our fault. They advised us to keep spending down, be conservative in earnings and growth assumptions and focus on quality.
The message was clear, but not a shock to us. We’ve
always run a lean ship and have worked to build a small team whose energy and
passion has helped build Sportgenic into what it is today. This isn’t to
say we’re not immune to the current economic climate. We know that there
are hard decisions we’ll have to make in the upcoming months. We’ve
always stayed true to our fundamental business plan to connect marketers to
passionate sports enthusiasts. While the decisions may be hard, they will
not be surprising to the people who work here or with us.
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