Posts filed under “Venture Capital”

Reform of NYC Pension May Follow CALPER’s Script

People seem to be genuinely shocked by a new report out of New York City’s Comptrollers Office. The report found that the city’s public employee retirement fund pays big fees to Wall Street but gets little in return.

However much anyone is shocked, they really shouldn’t be. That’s because the high cost of hiring outside money managers to oversee the city’s retirement assets was entirely predictable. As Bloomberg reported in 2013, New York City is “the only one of the 11 biggest U.S. public-worker pensions that refuses to manage any assets internally.” That alone suggests that the city is paying disproportionately high fees compared with pensions that manage some or all of their funds in-house.

The highest cost investments the city has are its $9.72 billion in private equity and $3.34 billion in hedge funds. The $160 billion retirement system pays fees of more than $360 million a year to outside money managers. That’s a big deal.

But a big surprise? Not even close.


Continues here: Hey New York, Check Out Calpers

Category: Hedge Funds, Investing, Venture Capital

Will That New Product Be a Success?

Regarding that Apple Watch . . .   via xkcd

Category: Humor, Technology, Venture Capital

The Future of New Business is Disrupting Old Business

The future of new business is disrupting old businessBarry RitholtzWashington Post, February 1 2015        There are many lessons to be learned from Uber, the taxi- ­ and car-hailing start-up that came out of nowhere and is valued at $41 billion. Less than three years ago, Uber had zero drivers. Now it has more than…Read More

Category: Investing, Technology, Venture Capital

Uber and the Business Model of Disruption

> My Sunday Washington Post Business Section column is out. This morning, we look at future of business, and the role disruption of entrenched interests is going to play. The print version had the full headline “On Uber and the business model of disruption” while the online version is merely The future of new business is disrupting…Read More

Category: Technology, Venture Capital

Mark Cuban’s Dozen Rules for Startups

I found this today while researching materials for a related project, and I thought it was pretty interesting:   Source: Entrepreneur

Category: Digital Media, Venture Capital

Private Equity: The Numbers

Barron’s notes that Q3 2014 has been good to Private Equity firms: $50 billion: U.S. private-equity fund raising in the second quarter, a near doubling from the first quarter -3%: sequential decline in total equity financing for U.S. leveraged buyouts $440 billion: callable capital reserves, or “dry powder,” rose to this level sequentially -21%: decrease…Read More

Category: Venture Capital

The Billion-Dollar Startup Club

Click for an interactive graphic. Source: WSJ

Category: Digital Media, Valuation, Venture Capital

Internet Hall of Fame

World Startup Report research on the biggest Internet companies across 50 countries. The insights that will make you look outside Silicon Valley and the US. Things to Know about the World of Internet Companies Internet Hall of Fame: Things to Know about the World of Internet Companies from World Startup Report

Category: Technology, Think Tank, Venture Capital

Underinvested in US Equities, Overinvested in Hedge Funds

Last summer in Boston, the Trustee Leadership Forum for Retirement Security held its annual meeting at Harvard’s Kennedy School. Trustees and representatives of various state pension funds listened to explanations about the challenges facing endowments and pension funds. The conference is an attempt to explain why so many state pensions are underfunded and underperforming. The…Read More

Category: Hedge Funds, Investing, Venture Capital


“Why Uber just might be worth it at $18 billion‘ It’s all anybody talks about, other than Airbnb. This exalted status used to be occupied by music. How did this happen? Interestingly, Travis Kalanick, Uber’s majordomo, used to be in the file-trading business, with a company called Scour, you know how that turned out, the…Read More

Category: Music, Venture Capital, Weekend