Wall Street Journal: Market News

  • Fear the Unknown at General Electric
    GE’s nasty surprise raises deeper fears about the company and doubts about whether a breakup would preserve value for investors.
    - 13 hours ago, 16 Jan 18, 9:38pm -
  • UnitedHealth Cashes In on Tax Cut
    Tax reform lived up to the hype for health insurers, as industry bellwether UnitedHealth reported higher-than-expected revenue in the fourth quarter and raised its forecast for 2018 by 17%.
    - 16 hours ago, 16 Jan 18, 6:12pm -
  • Where Banks and Tech Are Going Head to Head
    New rules in Europe have opened a battleground between big tech and big banks over who will control consumers’ wallets.
    - 19 hours ago, 16 Jan 18, 3:54pm -
  • The Dollar's Decline Has a Flipside for Markets
    It isn’t a happy new year for dollar bulls, with the currency starting 2018 by falling to a three-year low. The weak dollar has consequences elsewhere for central banks and markets—but isn’t necessarily something to be feared.
    - 20 hours ago, 16 Jan 18, 2:56pm -
  • U.S. Stocks Too Expensive? Try Japan
    Global equity markets look expensive and asset prices bloated, but Japan’s stock market still looks like it has room to run.
    - 23 hours ago, 16 Jan 18, 11:47am -
  • Trouble Ahead for the Treasury Market
    Inflation, less central bank bond buying, an increase in supply—there are plenty of reasons for Treasury yields to go a lot higher this year.
    - 2 days ago, 15 Jan 18, 4:33pm -
  • Don't Fear a Biotech Correction
    Patience from biotechnology investors may be needed this year, but it will be rewarded in the long run.
    - 2 days ago, 15 Jan 18, 1:33pm -
  • Watch Where the Money Goes After SoftBank Telco IPO
    The Japanese tech conglomerate is considering listing its cash-cow domestic telecoms unit. That should help boost its valuation, but investors should watch it doesn’t waste the money raised
    - 2 days ago, 15 Jan 18, 6:38am -

Wall Street Journal: U.S. Business

  • Want to Break Up Facebook and the Tech Giants? Here's the Argument
    Facebook, Google and Amazon dominate their worlds just as Standard Oil and AT&T once did. Critics say they should get the same treatment. The answer to the antitrust question depends on a narrow test: Are consumers worse off?
    - 5 hours ago, 17 Jan 18, 5:38am -
  • Troubles Push GE to Consider a Breakup
    General Electric is considering breaking itself apart, its chief executive said, after disclosing more problems buried in one of its major units.
    - 7 hours ago, 17 Jan 18, 4:03am -
  • YouTube Subjecting All 'Preferred' Content to Human Review
    YouTube is ordering workers to review thousands of hours of its most popular content and setting new limits on which videos can run ads, in moves to ease advertisers’ worries that their brands are showing up alongside offensive or controversial vid…
    - 8 hours ago, 17 Jan 18, 2:18am -
  • GM to Take $7 Billion Charge for U.S. Tax Overhaul
    General Motors said 2017 pretax profit likely ended up at the high end of its previous forecast but disclosed it will take a $7 billion write-down on deferred-tax assets stemming from the tax-overhaul law.
    - 10 hours ago, 17 Jan 18, 12:20am -
  • States, Activists Challenge FCC Rollback of Net-Neutrality Rules
    State attorneys general and internet activists filed legal challenges to the Federal Communications Commission’s recent rollback of Obama-era internet regulations, launching a legal battle that could go on for years.
    - 12 hours ago, 16 Jan 18, 11:06pm -
  • Ford Sees Lower Operating Profit on Earnings-per-Share Basis
    Ford said it expects lower operating profit on an earnings-per-share basis in 2018, with higher commodity costs and adverse exchange rates offsetting gains from cost-cutting efforts and continued demand for high-margin pickup trucks.
    - 12 hours ago, 16 Jan 18, 10:25pm -
  • Celgene in Talks to Buy Juno Therapeutics
    Celgene Corp. is in talks to buy biotechnology company Juno Therapeutics Inc., just days after announcing another major deal to bolster its portfolio of blood-cancer drugs.
    - 12 hours ago, 16 Jan 18, 10:18pm -
  • Nestlé Sells Butterfinger and BabyRuth Unit to Italian Candy Maker
    Ferrero International, the Italian confectionery maker, muscled further into the North America market, agreeing to pay $2.8 billion in cash to buy Nestlé’s U.S. chocolate business that includes the Butterfinger and Baby Ruth brands.
    - 12 hours ago, 16 Jan 18, 10:17pm -

Robert Reich

Naked Capitalism

Overcoming Bias

  • Privately Enforced & Punished Crime
    I’ve been teaching law & economics for many years now, and have slowly settled on the package legal reforms for which I most strongly want to argue. I have chosen a package that seems big enough to inspire excitement and … Continue reading →
    - 1 day ago, 15 Jan 18, 11:20pm -
  • Social Innovation Disinterest Puzzle
    Back in 1977, I started out college in engineering, then switched to physics, where I got a BS and MS. After that I spent nine years in computer research, at Lockheed and NASA. In physics, engineering, and software I saw … Continue reading →
    - 3 days ago, 14 Jan 18, 6:20pm -
  • Our Book’s New Ground
    In today’s Wall Street Journal, Matthew Hutson, author of The 7 Laws of Magical Thinking: How Irrational Beliefs Keep Us Happy, Healthy, and Sane, reviews our new book The Elephant in the Brain. He starts and ends with obligatory but … Continue r…
    - 5 days ago, 12 Jan 18, 4:00pm -
  • When Disciplines Disagree
    Our new book, The Elephant in the Brain, can be seen as taking one side in a disagreement between disciplines. On one side are psychologists (among others) who say of course people try to spin their motives as being higher … Continue reading →
    - 6 days ago, 11 Jan 18, 2:30am -
  • Elephant in the Brain Reviews
    Its now one week after the official hardback release date, and five weeks after the ebook release, of Elephant in the Brain. So I guess its time to respond to the text reviews that have appeared so far. Reviews have … Continue reading →
    - 8 days ago, 9 Jan 18, 1:35am -
  • Kaczynski’s Collapse Theory
    Many people argue that we should beware of foreigners, and people from other ethnicities. Beware of visiting them, trading with them, talking to them, or allowing them to move here. The fact that so many people are willing to argue … Continue readi…
    - 13 days ago, 4 Jan 18, 6:55pm -
  • Ten Could be Twenty or More
    Today is the official release date for our book The Elephant in the Brain: Hidden Motives in Everyday Life, and I can confirm that a copy sits on the shelf at my local B&N bookstore (across the aisle from where … Continue reading →
    - 15 days ago, 2 Jan 18, 7:05pm -
  • Automatic Norm Lessons
    Pity the modern human who wants to be seen as a consistently good person who almost never breaks the rules. For our distant ancestors, this was a feasible goal. Today, not so much.To paraphrase my recent post: Our norm-inference process … Continue…
    - 18 days ago, 30 Dec 17, 7:00pm -
  • Automatic Norms in Academia
    In my career as a researcher and professor, I’ve come across many decisions where my intuition told me that some actions are prohibited by norms. I’ve usually just obeyed these intuitions, and assumed that everyone agrees. However, I only rarely…
    - 19 days ago, 29 Dec 17, 3:00pm -
  • 10 Implications of Automatic Norms
    My last post observed that we seem to have a meta-norm that norm application should be automatic and obvious. We are to just know easily and surely which actions violate norms, without needing to reflect on or discuss the matter. … Continue reading…
    - 20 days ago, 28 Dec 17, 6:25pm -

Information Arbitrage

  • Recycling: The challenge and the opportunity for a Seed stage VC
    My recent post gave rise to a host of questions around the issue of recycling. What does it mean? How do you do it? And what are the implications for venture investors? I attempted to respond in a Tweetstorm, but recycling is a complicated issue that…
    - 5 Oct 16, 8:48pm -
  • The TTD Investment and the IA Ventures Model
    A Little HistoryIA Ventures began life a little less than seven years ago, just as the world was coming out of the worst economic crisis since the Great Depression. The term “Micro VC” had yet to be coined. “Big Data” was still somewhat myste…
    - 29 Sep 16, 1:25am -
  • Welcoming John to IA
    Brad, Jesse and I are happy to announce that our friend and colleague, John Hadl, is joining IA Ventures as Venture Partner, effective immediately. We have personally gotten to know John over the past four years due to our shared investment in PlaceI…
    - 12 Mar 15, 8:29pm -
  • Crowdfunding for start-ups: A durable trend or a bull market phenomenon?
    Angel investing is red hot as is the concept of crowdfunding start up investment. Part of this phenomenon has been driven by the emergence of AngelList, the brainchild of Naval Ravikant. What started out as a way for a curated set of angels to inves…
    - 23 Nov 14, 10:44pm -
  • Financial interaction: the next generation
    I have spent over 25 years creating, processing and analyzing financial transactions. I like studying them - a lot - whether an outgrowth of my time on Wall Street helping sophisticated entities manage risks, or through IA Ventures’ investments in…
    - 25 Feb 14, 10:43pm -
  • IA Ventures: Reflections on 2013
    2013 was a very different kind of year for IA Ventures. While the years 2010-12 were characterized by 8-10 new investments per year, in 2013 we invested in only three new companies: Data Robot; Digital Ocean (DO) and Sight Machine (SM). Digital Ocean…
    - 3 Jan 14, 8:28pm -
  • “If you can’t do something willingly and joyfully, then don’t do it. If you give...
    “If you can’t do something willingly and joyfully, then don’t do it. If you give up drinking, don’t go moaning about it; go back on the bottle. Do. As. Thou. Wilt." - The late Peter O'Toole
    - 16 Dec 13, 1:05pm -
  • Venture Capital and "Innovation"
    Many have recently been critical of the role of the venture industry in financing “true innovation.” The narrative goes something like this: “VCs are like lemmings, flocking to the latest consumer wave (mobile chat, ride-sharing, etc.) in searc…
    - 16 Dec 13, 2:41am -
  • Evidence is mounting that people at the bottom are increasingly stuck without skills or pathways to...
    Evidence is mounting that people at the bottom are increasingly stuck without skills or pathways to rise. Research from the Federal Reserve Bank of Boston shows that in the 1980s, 21 percent of Americans in the bottom income quintile would rise to…
    - 15 Dec 13, 1:51pm -
  • Soft is the new Hard
    I live in a world where engineering and technical talent is valued above all others, where the Holy Grail is a “coding ninja” who can crank out oodles of elegant code at a breakneck pace. These people speak a language that is distinct and only un…
    - 14 Nov 13, 4:32am -