CNBC: Get Ready for a Prolonged Downturn That's Worse than 2000 or 2008, Billionaire Doug Leone Says

Article by Ryan Browne in CNBC financial

American venture capitalist Doug Leone doesn’t think the tech wreck is going away anytime soon.

The Sequoia Capital partner gave a gloomy outlook for the global economy, warning that today’s downturn was worse than recessions in 2000 and 2008.

“The situation today I think is more difficult and more challenging than either ’08, which was really a protected financial services crisis, or 2000, which was a protected technology crisis,” Leone said, speaking onstage at the Slush startup conference in Helsinki.

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