peHUB First Read
* U.S. bailout panel: Toxic assets may need more Treasury support.
* VC-backed company valuations continue to fall in Silicon Valley.
* Print media isn’t the only industry suffering from online cannibalization. It’s also hurting porn.
* Morning Call: U.S. futures point higher, London slips early, European shares fall on banks, the Nikkei keeps climbing and Hong Kong closes at a one-year high.
* Brad Feld: How to run a great board meeting.
* Jaime Dimon takes a page out of Allan Mullaly’s playbook.
* Lots of champagne corks popping yesterday at Benchmark Capital, which agreed to sell portfolio companies SpringSource (to VMWare) and FriendFeed (to Facebook). Most of the navel-gazing Twittersphere has focused on the latter (after all, there were photos), but investors who care about big distribution checks probably are more excited about the former.
* It was just a matter of time before Eliot Spitzer used his Slate platform to defend himself, from what he feels is the WSJ’s revisionist history on AIG and Hank Greenberg.
* Hedge fund heavies discuss the future of their industry.
* Not everyone is thrilled with the FriendFeed sale. Hitler, for example, is distressed:
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