Michael Moritz Isn't Giving Up Against San Francisco Politicians
As a managing partner at Sequoia Capital, one of Silicon Valley’s most successful and long-lived venture firms, Michael Moritz can speak eloquently about industry trends, entrepreneurs and the rise of global competition. He did so last night at an appearance for Xconomy, a business and technology Web site in San Francisco.
But it wasn’t until the mention of San Francisco’s defeated Proposition B, which would have required city employees to contribute more money to their pension and health benefit plans, that Moritz became truly animated.
An outspoken proponent of the hotly contested proposition, Moritz battled labor unions, politicians and the state Democratic party, he said, because he believes they are leading San Francisco “to the brink of financial destruction.”
