peHUB First Read

* Fred Wilson: Parting ways with a founding team member

* Zac Bissonnette: The hidden lifestyle costs of going to an elite private college

* Matthew Wurtzel: “Apple’s new terms for publishing ads on its mobile devices aren’t just a blow to Google Inc. and its newly acquired AdMob unit. They could also pose a problem for venture capitalists invested in other, still-independent mobile ad companies.”

* Morning Call: U.S. futures point higher, London rises early, European shares hit 4-week high and the Nikkei climbs on exporters.

* Alex Benik: The VMotion myth

* We are one step closer to having lightsabers

* Combatting the complexities of carbon fraud

* Karate Kid netted $56 million, even though the kid didn’t learn karate.

* Lehman lesson: If you think your firm might end up as the subject of a massive fraud probe, be sure to avoid using certain key terms in emails.

* Nelson Peltz isn’t the only one who thinks Wendy’s is waaay better than fast food.

* Xconomy opens shop in San Francisco

* Chatroulette enlists Shawn Fanning in its fight against masturbators

* Roger Simon returns to Politico, with two fewer legs but an intact sense of morbid humor.

* BP spills coffee:

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