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This image was lost some time after publication.

In explaining the Sequoia high-priest's resignation from Google's board, Valleywag thought it credible that Moritz's increasingly administrative role at the venture capital partnership would make demands, all be it tiresome demands, on his time. You had some other suggestions. One VC advised a look at Google stock sales. "VCs resign from a board when they want to sell." Valleywag commenter interdigitation says Moritz is a visionary who's moving on to the next big thing. Sycophant! But of all the speculative backstories, we like this one, from an anonymous tipster, the best:

Another big reason was the conflict of interest over Sequoia's other search investment. They have been relatively stealth, and their current offering is a smokescreen for what they have planned. Apparently, they have something killer behind the scenes, and Eric Schmidt was concerned about the competition. Basically, Moritz was given the choice to divest from the other startup or leave, but the startup looked so promising that Moritz wouldn't give it up.