youngelephant
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peHUB First Read

First Read brings you into the week’s homestretch with news McDonald’s CEO has stepped down, Facebook earnings climb on mobile growth but expenses are up 87% and the future of wearables isn’t the connected watch.

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Formation 8 adds new partner to team

Singapore-based investor Joel Sng has joined Formation 8 as a partner, the company announced in a blog post on its site. Sng’s portfolio of investments include Facebook, Uber, Xiaomi, Razer, SF Express, Airbnb and Palantir. To read more details about Formation 8’s new addition, visit here.

Peter Thiel pcw14 with aragon 9N8A4752
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Listen to Peter Thiel: video

In a keynote at our recent PartnerConnect conference, Peter Thiel shared his (strong) opinions about Apple, Google, Uber, tech founders, competition, phony technology companies and lots more.

File photo of CIA Director David Petraeus speaking to members of a Senate (Select) Intelligence hearing in Washington

Hey, Washington, We’ll Take Petraeus

It’s been nearly a week since David Petraeus resigned as head of the Central Intelligence Agency. Since then, the four-star general, who served the country for more than 37 years, has effectively been declared persona non grata for having an affair with his biographer. That’s not just shoddy; it’s knuckle-headed.

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Founders Fund Talks Space, Robots, Elon Musk and Why It Didn’t Back Tesla Motors

It was nearly five years ago that Founders Fund — led by four entrepreneurs with deep ties to PayPal and Facebook — burst onto the venture scene, promising founders more autonomy than traditional VC firms and promising investors that it would transform its connections, including to former PayPal executives, into rich returns.

So far so good, apparently. Despite a sluggish fundraising environment, Founders Fund, which has already seen a handful of its portfolio companies acquired — CoTweet, Mint, Powerset, IronPort, and CyberTrust — announced last week that it had closed a $250 million “oversubscribed” third fund, its biggest to date.

In a wide-ranging discussion earlier today, managing directors Ken Howery and Luke Nosek talked about that new fund, along with some of the firm’s highest-profile investments; notable companies they haven’t backed; and the nerdy — and potentially lucrative — areas that interest the firm today.

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