peHUB First Read

* John Heilemann: BP’s hypocrisy problem, and ours

* Greg Huang: Five themes to watch in the Boston innovation scene

* Mark Gimein: Why does so much federal money go to for-profit schools—and what happens when the system crashes?

* Morning Call: U.S. futures point higher on yuan revaluation, London rises early, European shares climb and the Nikkei hits a 1-month closing high

* An “edgy” Fraggle Rock?

* ZeroBeta: Leave Business Insider alone!

* Today in carried interest: Paul Kedrosky on cynicism

* Mark Mobius on China and opportunities beyond the BRICs

* Greg Gretsch: “One of the biggest advantages startups have over larger, more established companies, is that their inherent lack of resources forces them to do fewer things – to focus.”

* Sad scientific truth: “Once you’ve been drinking coffee for a while, the feeling you are getting after a cup isn’t the difference between the normal you and the super you, it’s the difference between the addict before and after a fix.”

* Roger Scruton: To be truly happy, we must be pessimistic

* IBM opens its largest software campus in North America

* Warren Lee: Everything I learned investing in (and selling) Associated Content

* Keith Rabois on angel investing and what startups can learn from it:

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