Steve Case and Clara Sieg on how the COVID-19 crisis differs from the dot-com bust

Steve Case and Clara Sieg of Revolution recently spoke on TechCrunch’s new series, Extra Crunch Live. Throughout the hour-long chat, we touched on numerous subjects, including how diverse founders can take advantage during this downturn and how remote work may lead to growth outside Silicon Valley. The two have a unique vantage point, with Steve Case, co-founder and former CEO of AOL turned VC, and Clara Sieg, a Stanford-educated VC heading up Revolution’s Silicon Valley office.

Together, Case and Sieg laid out how the current crisis is different from the dot-com bust of the late nineties. Because of the differences, their outlook is bullish on the tech sector’s ability to pull through.

And for everyone who couldn’t join us live, the full video replay is embedded below. (You can get access here if you need it.)

Case said that during the run-up to the dot-com bust, it was a different environment.

“When we got started at AOL, which was back in 1985, the internet didn’t exist yet,” Case said. “I think 3% of people were online or online an hour a week. And it took us a decade to get going. By the year 2000, which is sort of the peak of AOL’s success, we had about half of all the U.S. internet traffic, and the market value soared. That’s when suddenly, when any company with a dot-com name was getting funded. Many were going public without even having much in the way of revenues. That’s not we’re dealing with now.”

Startups – TechCrunch

Extra Crunch Live: Discuss work and raising cash in a downturn with Revolution’s Steve Case and Clara Sieg right now

This afternoon, we’re chatting with Steve Case and Clara Sieg of Revolution as part of our new interview series, Extra Crunch Live.

Topping our agenda, we will talk about jobs — in Silicon Valley, on the coasts and in the heartland. The technology sector is suffering through a contraction caused by the COVID-19 global health crisis, and layoffs are hitting nearly every company.

We hope you’ll join the conversation. During our hour-long chat, Extra Crunch members can submit questions directly in the Zoom Q&A.

Steve Case has a unique vantage point. He co-founded AOL and steered the company through the first dot-com bubble, where AOL emerged as a dominant force. Later, during the 2008 economic crisis, Case led investments with his then-new firm Revolution.

Likewise, Clara Sieg has managed Revolution’s Silicon Valley efforts for the last eight years and can directly speak to the current upheaval. While at Revolution, she helped the firm raise two significant funds, including its $ 450 million Growth fund and its first institutional fund of $ 200 million.

Together, Case and Sieg are well-qualified to offer advice on negotiating the current climate.

Since its inception, Revolution has strived to invest in startups in and out of Silicon Valley. With the COVID-19 crisis, this model is relevant more than ever. We’re curious to hear the pair’s take on companies experimenting with permanent work-from-home policies and what this means for real estate prices in hubs like San Francisco and New York. Do they think the pandemic will create a lasting effect on the technology sector’s workforce?

This chat is the latest in our ongoing series of discussions with notable investors, entrepreneurs and technologists. Previously, TechCrunch staff sat down (virtually, of course) with Cowboy Ventures’ Aileen Lee and Ted Wang, Sequoia’s Roelof Botha and Mark Cuban, to name a few.

Join us today at 3:00 p.m. EDT. It’s going to be a good time.

Details are below for Extra Crunch subscribers. If you need a pass, you can get an inexpensive trial here.

Details

Here’s the information you’ll need:

Startups – TechCrunch

Extra Crunch Live: Join Revolution’s Steve Case and Clara Sieg on May 21 at 3pm ET/12pm PT

On May 21 at 3pm ET/12pm PT, we’re hosting an Extra Crunch Live session with Steve Case and Clara Sieg of Revolution.

This chat is the latest in our growing series featuring notable investors, entrepreneurs and technologists. Previously, TechCrunch editorial staff sat down (virtually, of course) with Cowboy Ventures’ Aileen Lee and Ted Wang, Sequoia’s Roelof Botha and Mark Cuban, to name a few.

There’s a lot to talk about with Case and Sieg, and Extra Crunch members are encouraged to come with their own set of questions to ask these renowned investors. Revolution is known for its wide range of investments, inside and out of the Valley, so we’re curious how the firm is addressing the COVID-19 crisis.

Steve Case was a co-founder of AOL and led the company as it became the internet giant of the ’90s — and did so outside of Silicon Valley. Because of this, he’s long been a champion of startups from other regions. Yet the firm still has a presence in Silicon Valley, and Clara Sieg has run that effort since 2012 after joining in 2010.

We’re curious how Case, Sieg and other partners are advising startups to weather this storm. With investments throughout the country, Revolution is in a unique position to have a holistic perspective on how the COVID-19 crisis is affecting startups.

Are they still funding startups right now? What metrics are they looking for? What regions of the country do they see less effected than others and which are hardest hit?

We have questions and we hope they have answers.

Extra Crunch members can ask their own questions directly in the Zoom Q&A. So come prepared! You can find the full information for the chat below. See you there!

Startups – TechCrunch