Read the whole thing at “Six Rules for Dining Out: How a frugal economist finds the perfect lunch,” by Tyler Cowen, The Atlantic, May 2012
A beautiful new song by the (surviving) Beach Boys — Brian Wilson, Mike Love and Al Jardine (with Bruce Johnston and David Marks). You can listen to it at the link.
If you're lucky, you can hear The Beach Boys on tour — the band began a world tour for their 50th anniversary last night in Tucson, performing an astonishing 42 songs!
Noah Smith explains at his link:
…that graph sure looks like a structural break to me. Something looks like it broke the VC business model after the dot-com crash. Maybe the new tech bubble (Facebook, etc.) will pump those returns back up, but there have been some big IPOs and some big acquisitions in Tech Bubble 2.0, and VC returns haven’t really bounced back yet, so I’d be cautious. What’s more, I’m starting to read about a slump in venture funding…Could this be the (temporary) end of the VC industry? If so, is it a harbinger of technological stagnation, or simply the passing of a financial fad?
He is drawing upon this recent paper by Harris, Kaplan, and Jenkinson (pdf).
Skull & Bones