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It's important that Sequoia takes things seriously. The storied venture firm is known to react to macroeconomic events with grand memos aimed at portfolio companies and sometimes the entrepreneurship scene at large.

The document titled "Adapting to Endure" was created by Sequoia and was first reported by The Information.

Maybe it was because it stuck to internal musings instead of a Medium post, but the firm is not always right in its predictions.

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The deck states that the intention in gathering today is not to be a beacon of gloom.

Other venture firms have been using the same advice: extend runway, focus on sustainable growth and recognize that an economic recovery may be a ways away. There were some tidbits that stood out, such as an explanation of how founders should define fluff and a subtweet that I think is meant for Tiger Global.

The capital provider blames capital itself — capitalism, huh?

The commentary on cross-over funds is one of the clearest subtweets within the deck. Cheap capital isn't coming to the rescue at the moment, according to the firm.