peHUB First Read

By Dan Primack — 8 years ago

* Silicon Valley has lost its “best workplace” luster.

* How J.C. Flowers is compensating new employee John Corzine

* A private equity firms plans to build a nationwide 4G wireless network to challenge AT&T and Verizon

* Morning Call: U.S. futures point higher, London rises early, European shares rises on miners and Vodafone, the Nikkei falls on ex-dividend effect and Hong Kong shares gain.

* Mark Suster: Don’t be a grin fucker

* Jim Robinson: 10 predictions before the world ends in December 2012

* Oliver Stone on Michael Lewis’ conspiracy theory for why the Wall Street sequel was bumped.

* Bain & Company: “Most companies already believe that information technology goals must be aligned with business goals to create value. Yet far fewer understand that alignment alone doesn’t guarantee improved business performance. In fact, it can be a trap.”

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Practical advice for job interviewing at a VC firm

* Noam Wasserman on salary inequality among co-founders

* Nin-Hai Tseng: Can big banks blog or tweet their way into better reputations?

* Morning Call: U.S. futures point higher, London falls early, European shares retreat, the Nikkei hits 18-month high and China shares rise.

* A return of cov-light loans?

* Profitable lessons from freemium business models

* Richard Ferri: Why the S&P 500 is an overused benchmark

* Todd Bishop: What Microsoft learned from Jerry Seinfeld and BIll Gates

* WSJ’s Brett Arends writes about whether individual investors should buy into publicly-traded PE firms like Blackstone, Fortress or (coming soon) KKR. Unfortunately, he seems to miss the most fundamental point: Investing in a PE firm’s stock is not equivalent to investing in a PE firm’s fund (which remains open only to invited limited partners). A firm’s new fund could become top quartile, but there is no guarantee that its success would be reflected in the share price. Moreover, most of the quarter-to-quarter revenue growth/loss on publicly-traded PE firms is based on non-PE-related fee income (capital marketrs groups, advisory groups, etc.). Ok, I’m done now…

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Max Abelson: Return of a subprime villain

* Altos Ventures launches a Fat Startup Watch

* We’ve previously discussed problems with the Dodd Bill vis-a-vis startup investments (particularly the preemption of Regulation D), but didn’t notice a provision that apparently would give the SEC approval rights over angel deals. Got to look into this once I get the morning email out…

* Morning Call: U.S. futures point higher, London rises early, European shares hit 17-month high, the Nikkei climbs and China shares retreat.

* What if women ran Wall Street?

* Will robots replace journalists?

* Bubble alert: Most battery startups will fail

* GoDaddy follows Google out of China. But we’re pretty sure some other softcore porn domain registrar site will take its place.

* Bess Levin asks if CNBC can top the tortoise cam. Clearly Bess hasn’t spent much time in Englewood Cliffs lately, where the stock-picking llama is awaiting its big break.

* Private equity exec Dan Senor will not run for Senate in New York. Until this story, I didn’t realize Dan Senor was considered a private equity exec.

Continue

peHUB First Read

By Dan Primack — 8 years ago

* LBO revival being seen in default swaps

* Mark Suster: Advice for dealing with journalists

* Megan McArdle: Will healthcare reform spur entrepreneurship?

* Morning Call: U.S. futures point higher, London rises early, European shares climb, the Nikkei gains 0.4% and China shares keep rallying.

* Is China heading toward a trade deficit?

* Mark Davis: Why VCs say no to good ideas

* Jim Jubak: Wall Street didn’t die. It just moved

* Dana Carney: The more power you have, the better you are at lying

* Matthew Bishop: The Kravis Prize gets it right, by encouraging philanthropic scale rather than rewarding innovation.

Continue

peHUB First Read

By Dan Primack — 8 years ago

* A strong argument against passing the Startup Visa Act, and an even stronger rebuttal.

* Stocks rise when celebs take board seats: “If E*Trade had simply named Lindsay Lohan a director instead of mocking her in its incredibly cute baby commercials, the company might be booming right now.”

* Morning Call: U.S. futures point higher, London falls early, European shares pare losses, the Nikkei keeps climbing and China shares hit 3-week high.

* Why China is an incubator for female billionaires

* Preqin: Private equity performance improved in Q3

* Sim Simeonov: 10 rules for better founding teams

* Mark Gimein: What the Mafia can teach us about corporate fraud

* Fat startups vs lean startups? Lee Hower says they’re both right.

* Tommy Hilfiger on weathering the ups and downs of retail fashion: “Keep the heritage of the brand intact.”

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Ryan Block: The iPad may change computing, but not your life. And that’s ok.

* Paul Ingrassia on the nation’s public pension crisis: The difference between General Motors and California is that California hasn’t gone bankrupt. Yet.

* The Economist on why there are so few Japanese private equity deals, despite a plethora of homegrown private equity firms. Same question could be asked about Japanese venture capital…

* Morning Call: U.S. futures point lower, London falls early, European shares dip, the Nikkei rebounds and China shares hit three-week high.

* Why @ is held in such high design esteem.

* SpeakerText founder Matt Mireles: How I judge venture capitalists

* Justin Smith: Which media giant will pull the social gaming trigger first?

* Fred Wilson disagrees with Ben Horowitz: Being fat is not healthy (we’re talking startup euphemisms here). As an aside, good to see Wilson point out that his comments are specific to software startups, not VC-backed companies in general. Too many other VCs take an ego/sector-centric view on this topic, presuming either: (a) What’s good for my type of startups is good for all types of startups; or (b) My types of startups are the only ones worth discussing.

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Big Buyout sticks to the script: What, me error?

* Why there will never be a standard set of seed financing documents.

* Data Marketplace launches as an Amazon for structured financial information.

* Morning Call: U.S. futures are mixed, London rises early, European shares hit 17-month high, the Nikkei rebounds and Hong Kong shares gain.

* Ireland’s boom and bust

* Rolfe WInkler: Would a Harley-Davidson buyout make sense?

* Liz Tay: Employers should look to gaming to motivate employees.

* Larry Summers objects to being called a “punk staffer” (“sleepy staffer” would have been okay, though)

* Wal-Mart puts another category of small business on the ropes. But these are check-cashiers, so it’s ok.

* We’ve now sold nearly 800 tickets to our upcoming shindigs in Boston (3/31) and San Francisco (4/15). They cost just $10 each, with ticket proceeds going to a local charity that will be selected by event attendees. Get Boston tickets here, and get San Francisco tickets here.

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Ben Horowitz: The case for the fat startup

* John Terrill: The moral imperative of investment banking

* Larry Cheng: The tension between an optimistic CEO and a conservative CFO

* Morning Call: U.S. futures point lower, London falls early, European shares slip on banks, the Nikkei loses 1% and tightening fears drop China and Hong Hong shares.

* Micropayments and Subscriptions: How business models for startups are shifting

* The men’s NCAA tourney begins in just a few hours, and we’ve got our own pool going on (with prizes, of course). Get the sign-up info here.

* Speaking of basketball, the hedgies crushed the PE pros in their annual charity game

* Biz Insider goes beyond the NYC vs. Silicon Valley pissing match, and lists the 20 NYC startups you need to watch.

* Scott Shane: America may benefit from policies that make it easier for certain immigrants to start businesses in this country (i.e., Startup Visa Act), but the basis should not be perceived differences in entrepreneurial aptitude between immigrants and the native-born. (as an aside: Has anyone seen a cogent argument against Startup Visa? I haven’t)

Continue

peHUB First Read

By Dan Primack — 8 years ago

* RRE Ventures: Not every entrepreneur deserves a trophy

* Justin Fox: What business should want out of financial regulatory reform

* FINRA tells the SEC (.pdf) that it would be “delighted” to help regulate PE placement agents, per the SEC’s request. This means that the proposed federal ban is all but history.

* Morning Call: U.S. futures point higher, London rises early, European shares rally, the Nikkei hits 8-week closing high and strong days for both China and Hong Kong shares.

* Mobile startup takes on drug counterfeiters

* Gordon Brown tables new European PE/hedge fund regulations

* Ho Nam: What’s with all this talk of entrepreneurial failure?

* Coming soon: A sitcom about life in Silicon Valley, written by Fake Steve Jobs and a former Seinfeld scribe.

* David Crow: Canadian entrepreneurs need to take responsibility for their industry, not blame others for its failure.

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Janet Takavoli takes on Michael Lewis

* Bob Metcalfe: The day dotcoms were invented

* The next blockbuster Silicon Valley IPO will be Facebook Skype

* Morning Call: U.S. futures point higher, London rises early, European shares climb, the Nikkei slips and China shares bounce back.

* Carl Icahn’s six biggest busts (is Genzyme next?)

* Eric Schmidt: A broadband catapult for America

* Rob Go: Why VC is like poker and stinks for new players

* The effects of employment on influenza rates: Are pink slips better than flu shots?

* Q&A with Wilbur Ross, who is looking to buy in the insurance, TIPS, RMBS and regional banking markets.

* Tickets are now on sale for our upcoming peHUB Shindigs in Boston (3/31) and San Francisco (4/14). Get yours today…

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Happy National Green Shoots Day

* Nick DiUlio: What economists are learning from cyber economies

* The Greek tragedy of Wind Hellas: “Private equity and banking can be very constructive functions of the economy, but they will destroy this industry if the leading players do not regulate themselves.”

* Morning Call: U.S. futures point lower, London falls early, European shares slip, the Nikkei rises and China shares hit 5-week low.

* Recent MBA grads head (far) east

* Is another bankruptcy wave on the horizon?

* Roger Ehrenberg: It’s time to end the FASB (and shake up the SEC)

* NYC taxi drivers overcharged riders by more than $8.3 million last year.

* NPR’s Ian Chillag uses all 119 of Tribune Co’s banned words in a single sentence.

* More than 370 tickets already sold for our Boston Shindig, which is taking place on March 31. Get yours today.

Continue

peHUB First Read

By Erin Griffith — 8 years ago

Hacking America: Wired Profiles Andrew Breitbart. (Wired)

Police are the New Tax Collectors: Virginia hands out almost 7000 traffic tickets in one weekend to raise money for the government. (Economic Collapse via Clusterstock)

Regret Nothing? John Kay says it’s a bit disarming that Warren Buffet and George Soros are the only financiers to take personal responsibility for the financial collapse and bad performance numbers, rather than blaming it on “unprecedented” things like a “perfect storm.” (FT)

Need Those Soft Skills: If there is anyone in finance right now who feels the pain of lacking “soft skills,” its Harry Markopolis. (FINS)

Continue

peHUB First Read

By Dan Primack — 8 years ago

* The 10 biggest IPO flops in history

* Dave McClure: Startup metrics for pirates

* The receptionist as an endangered species

* Morning Call: U.S. futures point higher, London rises early, European shares sink, the Nikke gains 0.6% and Hong Kong and China shares finish higher.

* Chadwick Matlin: How long can TiVo keep bleeding cash?

* Don’t forget to get your ticket to the peHUB Shindig in Boston, taking place on March 31.

* For the third time in three years, the world has a new richest man. In your face, Bill Gates.

* Steve Rattner speaks on the future of the auto industry (although not on the pay-to-play scandal — although not for our lack of asking).

* Martin Peers: “If Dirty Harry was on Wall Street today, more speculators would be telling him, yes, they do feel lucky. At least, that is, judging by the number of stocks subject to agreed-takeover deals trading above the buyout price. While that is usually an indication that arbitragers have reason to expect a higher bid, in these cases it reflects more hope than anything else.”

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Marion Maneker: Subscriptions are micropayments

* Gregor Macdonald: The myth of energy breakthroughs

* Ex-Sun CEO Jonathan Schwartz: “I feel for Google – Steve Jobs threatened to sue me, too.”

* Morning Call: U.S. futures point higher, London rises early, European shares flatten, the Nikkei remains unchanged and Chinese shares slip.

* The perils of nonprofit recruiting

* Bank books reveal depth of problems

* Spark Capital’s Bijan Sabet: Scale first, monetize second

* Foursquare co-founder Dennis Crowley: Facebook isn’t for real-life friends anymore

* More than 250 of you have bought tickets to the peHUB Shindig in Boston. Get yours here.

* Making a killing: “Billions of dollars in corporate bonds sold to retail investors come with an unusual provision that could be used to generate a fast profit. There’s just one catch: Investors must team up to buy the bonds with someone who is about to die.”

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Can California declare bankruptcy?

* Business schools revamp their applications

* Bijan Salehizadeh: Friendly advice for first-time CEOs

* Morning Call: U.S. futures point lower, London falls early, European shares slip, the Nikkei loses 0.1% and Hong Kong shares gain.

* The end of WiMAX? Cisco is the latest to bail

* Liz Gannes: When it comes to social sharing, don’t forget about email

* Tickets are now on sale for the next peHUB Shindig. Takes place March 31 in Boston (details about a San Francisco event will come next week).

* John Carney changes his mind on carried interest taxation, moving from the light back into the darkness. His basic argument is an old PE standby: LPs deserve all of the profit, and also the right to (preemptively) divvy up that profit as they see fit (no matter who originally put the capital at risk). Of course, that same argument wouldn’t apply to those who receive a corporate bonus (based on firm profits) in lieu of salary. Or someone who hires a contractor to redo a kitchen, sells the house at a profit and then pays the contractor with the proceeds (guess what rate the contractor must pay?). John handles all this by claiming the tax code isn’t consistent — he’s right — but doesn’t that actually argue for a rule change (carried interest) that would make the code a smidgeon more consistent? As you can tell, I feel a blog post coming on later today…

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Mark Suster: What’s it like being a venture capitalist?

* Jim McTague: FINRA must heal itself before receiving added responsibilities

* The No Prick Rule: “Hire the good, humble, kind human being first … skill-set second.”

* Morning Call: U.S. futures look flat, London opens higher, European shares climb, the Nikkei gains 0.3% and Hong Kong shares jump nearly 2%.

* Nick Hasell: Have London’s listed private equity firms turned a corner?

* Kevin Kelleher: The spark that could ignite Web M&A

* ABI Research: RFID market to reach $5.35 billion this year, and $8.25 billion by 2014

* Steve Rosenbaum: “Curation, whether accidental or intentional, is rapidly becoming the future of media and publishing.”

* David Biello: “The Bloom box makes no economic sense whatsoever without various government subsidies, particularly a federal tax credit paired with incentives from the state of California.”

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Nicholas Carson goes deep into Facebook’s founding

* Private equity firms cheer the return of the “staple.” Critics justifiably shudder.

* Microsoft boss Steve Ballmer: We’re “betting our company” on the cloud. The cloud, meanwhile, declined comment.

* Steve Schwarzman argues against placement agent bans (sure it’s self-serving, but it’s also the correct position). My only quibble is that I wish Schwarzman would have called out corrupt PE pros alongside “corrupt political hacks.” After all, wouldn’t PE pros be the “players” in his baseball/steroids analogy?

* Morning Call: U.S. futures rise ahead of monthly jobs report, London rises early, European shares keep climbing, the Nikkei gains 0.3% and Hong Kong shares slip.

* Matt Taibbi vs. Rick Santelli

* Jerry Colonna: What I learned by eating Oreos

* Want to buy Wall Street via an eBay auction? It will only cost you $125k.

* Power Players: 50% of successful social game invites come from 10% of users

Continue

peHUB First Read

By Dan Primack — 8 years ago

* Daniel Henninger: Bring back the robber barrons

* Saying goodbye: New exit strategies for today’s venture capitalists

* Morning Call: U.S. futures point lower, London rises early, European shares keep climbing, the Nikkei gains 0.3% and Hong Kong shares slip.

* America’s most-wired cities

* Larry Cheng: Should Bernie Madoff have charged 1% or 2% fees?

* Maybe it won’t go public this year: HCA’s latest surprise for its bondholders

* President Obama yesterday sent Congress the Volcker Rule language, and it would indeed ban banks from investing in private equity or hedge funds. If enacted, this would mean at least two things: (1) Banks with direct investing arms would have to divest, either via sales to PE firms or indipendent spinouts. In either case, it’s unclear if existing bank LP commitments to those platforms would be grandfathered in. (2) Banks would not longer be able to be LPs in private equity funds, thus depriving the alternatives market of a major capital source. Again, the grandfathering issue arises — although perhaps this is where secondary funds can spend all that cash they’ve been hoarding.

Continue