peHUB First Read

By Dan Primack — 8 years ago

* Josh Kopelman: “Virality” is not a sales and marketing plan

* Julian Delasantellis: It’s time to end economist idolotry

* Bryant Simon on the velevet revolt against brands, which is being illustrated by a new crop of stealth Starbucks that lack the company’s name or familiar green logo.

* Morning Call: U.S. futures point higher, London rises early, European shares bounce back, the Nikkei slips on a Bank of Japan decision and Hong Kong and China shares gain.

* IDD remembers Fred Joseph

* Tom Hazlett: Putting a price tag on TV spectrum

* ABA Journal: The best blogs and Twitter accounts for lawyers, by lawyers

* Charlie Gasparino: Is Goldman Sachs’ investment banking operation becoming second-tier?

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peHUB First Read

By Dan Primack — 8 years ago

* Who’s hiring (and who’s not) in Asia?

* Bing’s top searches for 2009: Michael Jackson bests Twitter and Swine Flu

* Comscore: Black Friday online spending up 11% (Amazon took the top spot, edging out Walmart.com)

* Morning Call: U.S. futures point higher, London falls early, European shares slip on oil, the Nikkei jumps 2.9% and both China and Hong Kong rise.

* Michael Arrington: What if Steve Jobs hadn’t returned to Apple in 1997?

* James Surowiecki: Why the Chinese don’t spend

* Knowledge @Wharton: Managing layoffs, and motivating those left behind

* TechFlash: There is “a growing sentiment in the tech industry that the big social networks have achieved a critical mass that makes them practically untouchable to potential competitors (though perhaps not to potential acquirers). That affects the strategies not just of Microsoft but also of Amazon.com and countless tech startups.”

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peHUB First Read

By Dan Primack — 8 years ago

* How to murder your company in 10 easy steps

* Australia sticks TPG with a $628 million tax bill

* Felix Salmon revisists Chicago’s parking meter privatization. Seems to me that this dispute is the very type of thing Carlyle Group is trying to avoid in its public-private structure for the Connecticut highway stops (as opposed to a pure privatization).

* Morning Call: U.S. futures point higher, European shares boosted by financials and commodities, the Nikkei rises in choppy trade and both China and Hong Kong shares recover losses.

* Wharton profs: M&A is back, but this time it’s different

* The Obama administration’s energy push has spurred a shift in U.S. science. In related news, the DoE handed out another $620 million in smart grid grants.

* The FDIC falls into the red for the first time since the S&L crisis, although “the bulk of that negative balance reflects money the agency has set aside to cover future bank failures.”

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peHUB First Read

By Dan Primack — 8 years ago

* Hanna Rosin: Did Christianity cause the crash?

* Roger Ehrenberg: Rethinking the Wall Street business model.

* The back-story of Sittercity and Care.com, including whether the alleged VC shenanigans are legit.

* Morning Call: U.S. futures point lower, London falls early, European shares slip, the Nikkei hits a 4-month low and China shares slump.

* The 50 favorite stocks of hedge funds

* The Kauffman Foundation’s Carl Schramm and Harold Bradley write in BusinessWeek about how “venture capital lost its way,” arguing that a quick-flip mentality has replaced the building of sustainable businesses. It looks that way — investing in Web 2.0 “products,” expecially — but weren’t VCs also quick-flipping a decade ago via IPOs?

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peHUB First Read

By Dan Primack — 8 years ago

* Incoming New Jersey Gov. Chris Christie asks the state not to make any new private equity investments, pending review (top link). Worth noting that a member of Christie’s budgetary task for is Bob Grady, who left The Carlyle Group a few months back.

* Gillian Tett: Will sovereign debt become the next subprime?

* Wikipedia is getting older, and an unprecedented number of its volunteers are quitting.

* Morning Call: U.S. futures point higher, London rises early, Europe looks up and both Hong Kong and China jump.

* Green shoot #1: PayNet finds that the smallest U.S. businesses — those with less than $100k in outstanding debts — have begun borrowing again.

* Green shoot #2: S&P reports that distressed debt hits a 17-month low.

* Man arrested for not using Twitter.

* 16 year-old Charles Allatt thinks he has created Napster 2.0 (i.e., a free P2P music sharing site that isn’t illegal).

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peHUB First Read

By Dan Primack — 8 years ago

* Fred Destin: How a great entrepreneur deals with complexity

* Reddit’s divorce from Conde Nast: How a social media dream deal fell apart.

* SEC told to change the way it chooses investigations, in order to avoid the type of breakdowns that led to Madoff.

* Morning Call: U.S. futures mixed, London rises early, European shares extend losses, the Nikkei falls 0.5% and both Hong Kong and China shares lose ground.

* Tim O’Reilly: The war for the Web

* What corporate America is reading

* Marvin Clark: 10 reasons to believe we’re in a depression

* I’m still in LA, but good to hear the home state’s unemployment rate actually dropped last month (which is different than growing more slowly).

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peHUB First Read

By Dan Primack — 8 years ago

* John Thain mulls move to private equity.

* Glenn Kelman, CEO of Redfin: The 8 best questions we got while raising venture capital

* Felix Salmon: “Is it OK for a financial services professional who has run into major trouble with the law to simply move over to journalism and cover the same asset class there?”

* Morning Call: U.S. futures point lower, London falls early, European shares keep tumbling, the Nikkei hits 4-month closing low and Chinese shares keep gaining.

* Heineken CEO says the decade he spent in Africa was “certainly worth three times Harvard Business School.”

* As electric cars arrive, where will they plug in?

* Mark Suster: VC funding season effectively ends this week.

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peHUB First Read

By Dan Primack — 8 years ago

* Carl Icahn is buying up MGM bonds “like a bat out of hell.”

* Someone in Yale’s endowment office needs to take an undergraduate math course.

* FT blares headline that Apollo Management is planning an IPO. Not too surprising (we even hinted at it in this space last week), but FT does give us some new intel on the pay-to-play investigation: “Apollo has received subpoenas from California, New Jersey, New Mexico and New York, and from the Securities and Exchange Commission in New York and Denver”

* Morning Call: U.S. futures point to mixed open, London rises early, European shares near 13-month high, the Nikkei hits 6-week closing low and China shares gain 0.62%.

* Fred Wilson’s brute force strategy for finding good deals? 10 meetings per day.

* Tear down this wall: On the persistence of borders in trade.

* Scott Kirsner: New England’s economy is playing five games, but winning only two.

* Digg CEO Jay Adelson says that profitability is right around the corner, thanks to its new ad platform.

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peHUB First Read

By Dan Primack — 8 years ago

* IBM is doing venture capital without the capital.

* The wonder of it all: Apollo Management has been buying up debt in struggling Connecticut casino Foxwoods.

* PAI Partners has gone further than almost any other buyout firm, in terms of its willingness to reduce its bloated fund size. But, for one major LP, it still isn’t far enough.

* Morning Call: U.S. futures point lower, London falls early, European shares pulled down by banks, the Nikkei loses 0.6% and Chinese shares hit 3-month closing high.

* Is the UK’s majority-rules M&A system preferable to America’s board-dominated process, or does it promote short-termism?

* Jason Mendelson: Why don’t venture capitalists tell you why they won’t invest?

* The Economist says that options have a future, but reform is justified

* FactCheck.org finds that current cap-and-trade legislation would likely slow job growth, but not by as much as its critics are claiming.

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peHUB First Read

By Dan Primack — 8 years ago

* James Surowiecki believes the U.S. should eliminate tax deducations on debt: “If the benefits are illusory, the costs are all too real.”

* CalPERS is seeking better terms from Apollo. Is there ever a point where the giant pension will publicly acknowledge that it was no patsy, but rather a willing accomplice?

* Andrew Corsello on the Ayn Rand revival: “2009’s most influential author is a mirthless Russian-American who loves money, hates God, and swings a gigantic dick. She died in 1982, but her spawn soldier on. And the Great Recession is all their fault.”

* Morning Call: U.S. futures rise on retail hopes, European futures signal gains, the Nikkei climbs 0.2% and Hong Kong jumps 1.73%.

* Chris MacDonald: Can ethics be taught in business school?

* Are you suffering from Big Company Syndrome?

* Sarah Lacy reports from India: How to profit off the poor and keep your soul

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peHUB First Read

By Dan Primack — 8 years ago

* The 67 most powerful people in the world.

* Sim Simeonov: Negotiating a better Series A deal

* David Reilly: Hedge funds can’t mess up worse than Bob Rubin

* Lengthy Q&A with Marc Rowan of Apollo Management. Unfortunately, no questions about its CalPERS situation or its planned IPO (which Wall Street sources say it’s gearing back up for). Wonder if ARVCO will serve as an underwriter…

* Morning Call: U.S. futures point higher, London opns flat, European shares climb, the Nikkei slips and Hong Kong rises.

* David Hornik on monetizing Twitter: Bring on the ads

* 10 years later: Looking at the repeal of Glass-Steagall

* Floyd Norris: A lack of rigors costs MBIA (whose largest shareholder is Warburg Pincus)

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peHUB First Read

By Dan Primack — 8 years ago

* Brad Feld: Board meeting lessons from the Supreme Court

* Buyout blackball? Why private equity is having such a hard time getting into bank deals.

* What lessons can be drawn from the Bear Stearns aquittals? Mark Gimein says it’s that white dollar defendants should sit down and shut up.

* Morning Call: U.S. futures point lower, London opens flat, European shares stay put, the Nikkei slips and Hong Kong loses 1.01%.

* Four stages of private equity fund life.

* Zynga CEO Mark Pincus discusses the Playfish acquisition by EA.

* As we wait to see if TPG Capital partners with American Airlines for a stake in Japan Airlines, Shasha Dai runs down TPG’s hits and misses in the airline space.

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peHUB First Read

By Dan Primack — 8 years ago

* AIG’s CEO threatens to quit, due to that meddlin’ government (you know, the same government that saved AIG’s hide and made it possible for there to be a CEO job in the first place). So much for dancing with the one who brung you.

* Bailout for burglers? The recession helped reduce break-ins.

* Michael Moe believes that Twitter is worth less than its latest VC valuation.

* Morning Call: U.S. futures point higher, London rises early, European shares keep gaining, the Nikkei flattens and Hong Kong shares hit 15-month high.

* Patrick Keane, CEO of Associated Content, makes the case against “engagement” being the key online advertising metric.

* Pay to Play? The photo on this News & Observer story is of former North Carolina CIO Patricia Garrick, but it’s Credit Suisse execs that comes off as looking underhanded.

* John Doerr is NOT running for governor of California, despite some arguments put forth for his candidacy. As an aside, Joanna Rees is indeed running for mayor of San Francisco, based on a meet-and-greet Evite I was forwarded.

* A call for help: Alan Cohen, the head of credit and distressed debt investing at York Capital Management, is suffering from leukemia and is in need of a blood stem cell match. There will be a match drive on Nov. 19 in New York City. Please go here for more details.

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peHUB First Read

By Dan Primack — 8 years ago

* Neil Unmack: “Bond market growth has allowed companies to sidestep banks, which are reining in lending. The next stage in this disintermediation process is to extend it to areas such as funding leveraged buyouts, where banks are still in retreat. There are limits, however, to how far it can be applied.”

* Matthew Lynn: “There has never been a better time to polish your CV, shine your shoes and start a new hedge fund.”

* InBev, Part II? PE firms salivate over the divestitures that could result from a Kraft-Cadbury merger.

* Morning Call: U.S. futures point lower following yesterday’s rally, London rises early, European rally continues, the Nikkei gains on tech and Hong Kong hits two-week high.

* Saul Klein: Seedcamp, thoughts on the evolution of a European startup

* Tweet of the Day: @pkedrosky “Anyone citing sub-5-year venture capital data as a sign of industry improvement should be spanked.”

* Wall Street storm clouds: “The average maturities of new debt issuance by Moody’s-rated banks around the world fell from 7.2 years to 4.7 years over the last five years — the shortest average maturity on record.”

* Note to self? The Boston Globe runs an editorial on Steve Pagliuca’s Senate candidacy, saying that his private equity career “deserves a fair and full vetting.” Ummm… Was that in question? Reads to me like an editorial assignment for the newsdesk that somehow got published.

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peHUB First Read

By Dan Primack — 8 years ago

* Skype Scorecard: Who won and who lost?

* Bad investment habits come back from the dead

* Mark Gimein: Do market libertarians believe their own hype?

* Morning Call: U.S. futures point higher, London rises early, European shares gain after G20, the Nikkei edges up and Shanghai hits 3-month high.

* The technology behind Madoff’s scam

* Fred Wilson on the inclusion of option pools in the pre-money valuation of VC deals: “The option pool is absolutely a piece of the price negotiation. But it is a very important one.”

* CalPERS board president Rob Feckner asks his fellow board members to stop meeting privately with fund placement agents. He should also ask why they were ever doing so in the first place. Pretty sure that’s why CalPERS spends all that money on investment staff and outside gatekeepers.

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peHUB First Read

By Dan Primack — 8 years ago

* Want to kill bankers? There’s an app for that

* Justin Fox: Are finance professors to blame for the financial crisis?

* Floyd Norris says goodbye to SarBox reforms. Now what will VCs blame their lack of portfolio company IPOs on?

* Morning Call: U.S. futures mixed ahead of payroll figures, London rises early, European shares gain, the Nikkei edges higher and Shanghai jumps 5.6% for the week.

* PEW Research says that U.S. college enrollment has hit an all-time high

* View from TechStars: How Boston, Boulder and Seattle match up as tech innovation hubs

* Kenichi Kiso, a former partner with Japanese private equity firm Unison Capital, has died after it became known that he was being investigated for insider trading (sub req). Unison dismissed Kiso when it learned of the investigation, and he died the following day of what are still unknown causes.

* Live-blog of yesterday’s twofer earnings call for Ares Capital and Allied Capital

* Rhode Island bans indoor prostitution. Now is that any way to deal with a 12.3% unemployment rate?

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peHUB First Read

By Dan Primack — 8 years ago

* Mark Suster: Are business plans still necessary?

* Will Jon Corzine return to Wall Street? (my bet is a private equity firm, but I’m thematically biased)

* Microsoft lays off Don Dodge, who was basically the software giant’s flesh-and-blood ambassador to startups big and small. Arrington nails it.

* Morning Call: U.S. futures point lower, London falls early, European shares drop in anticipation of BoE and ECB decisions, the Nikkei loses 1.3% and China shares hit one-month high.

* CNBC’s 15 most embarrassing bloopers

* Recession’s Dividend: A bumper crop of corporate tax credits

* Does the Yankees’ victory portend a stock market rally? Well, maybe not.

* What’s a few million between cronies? WSJ discovers that private equity firms paid ARVCO $65 million to secure business with CalPERS, rather than the originally-reported $50 million.

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