What's striking to me is that the CEO letter mentions Moritz directly.
I'm sure this isn't the last we'll hear of this story.
> We asked our board members what they thought of the opportunity. Michael
> Moritz, who represents Sequoia Capital (one of our investors and board
> members), wrote the following: "You now have the opportunity to accelerate
> Zappos' progress and to make the name and the brand and everything associated
> with it an enduring, permanent part of peoples' lives... You are now free to
> let your imagination roam - and to contemplate initiatives and undertakings
> that today, in our more constrained setting, we could not take on."
> At least two sources who do not hold board seats, but are directly involved
> with Zappos, indicated that Moritz and Zappos CEO Tony Hsieh came into
> conflict about the company’s future. Moritz, the sources say, wanted Zappos to
> sell while Hsieh wanted to remain independent.