theory of finance
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Khosla claims that investors only have two emotions: fear and greed. He has seen the trend of investing, which bounces between cycles of fear and cycles of greed.
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"Light will be thrown..." With these modest words, Charles Darwin launched a sweeping new theory of life in his epic book, On the Origin of Species (1859). The theory opened eyes and minds around the world to a radical new understanding of the flora and fauna of the planet. Here, Darwin showed for the first time that no supernatural processes are necessary to explain the profusion of living beings on earth, that all organisms past and pres...more
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The markets for debt, both public and private far exceed the entire stock market in value and importance. The U.S. Treasury issues debt of various maturities through auctions, which are open only to authorized buyers. Corporations issue debt with investment banks as intermediaries. The interest rates are not set by the Treasury, the corporations or the investment bankers, but are determined by the market, reflecting economic forces about w...more
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Byers gives an insight into the decision-making process at Kleiner Perkins on how it makes investment decisions. He advises entrepreneurs on ways to champion starting a selling process in the firm.
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Professor Shapiro guides the class through some practical applications of his theory of democratic justice. As applied to governing children, a sphere in which power-based hierarchy is inevitable, he circumscribes the role of the state as the fiduciary over children's basic interests and the role of parents as the fiduciaries over children's best interests. In other words, the state ensures the provision of the resources necessary for surv...more
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Professor Shapiro takes up again Schumpeter's minimalist conception of democracy. When operationalized as a two turnover test, this conception of democracy proves far from minimalist, yet people often expect other things from democracy, like delivering justice. Although people experiencing injustice under other types of governments often clamor for democracy, they become disillusioned with democracy when a particular regime fails to ensure...more
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Dominic Orr, CEO of Aruba Networks, observes a significant difference between going public in the post dot-com boom era in comparison to the actual boom. Orr argues that in the post-bubble era investors are much more thoughtful and analytical.
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Hawkins talks about the complicated negotiations with 3COM for the spin off of Palm. Discussions lasted five months and involved investment bankers and board members. Five different proposals were presented to the CEO, including spinning off Palm two years in the future. However, the final decision involved no doors banging, and no storming out of offices. All said and done, Jeff Hawkins did not want to start a company.
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While entrepreneur and former Lotus 1-2-3 founder Mitch Kapor understands how selling finance can boost a burgeoning enterprise, his experience has also acquainted him with some of the disadvantages - mainly accountability and a forced schedule of progress. Here, Kapor outlines some of the many alternatives to the traditional VC paradigm, including self-financing and angel funding.
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John Doerr, partner at Kleiner Perkins Caufield & Byers, talks about what distinguishes successful companies from all others. The two main factors are passionate founders and devotion to technical excellence.
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Imagine that interstellar trade is possible at speeds close to the speed of light. It must incorporate the insights of Einstein's special theory of relativity, which teaches us that clocks on board a spaceship moving at high velocity will ensure time at different rates relative to clocks at the point of departure. This means that time travel into the future is possible. Which time-keeping should we use? What would happen to economics if ti...more
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