Two predictions: How Google Works by Eric Schmidt and Jonathan Rosenberg, out this week, will be a bestseller; How Google Works will be rapidly forgotten. In fact, its publication may turn out to mark the peak of popular excitement about, interest in, and support for, almost everything Google touches.
It feels as if Wall Street is moving westward, and that US investors, having been caught up in the mortgage boom, have instead turned their attention to the opportunities on the west coast.
The National Venture Capital Association has unveiled figures showing that the industry had its best start to the year in terms of fund-raising since 2001, raising about $7.1bn in the first quarter.
Meanwhile, Matthew Garrahan writes in the FT about the keiretsu-like Raine merchant bank, which is raising $500m from a range of Illuminati from Silicon Valley and Hollywood including Eric Schmidt of Google and Sean Parker of Facebook etc. Read more
There are few equivalents in business of red carpet reporting – the showbiz practice of standing by the carpet at awards ceremonies and grabbing words as the celebrities walk by. The Sun Valley media and technology summit, however, is just such an event.
Never having been there (although I did once go to Sun Valley when the Allen & Co annual conference was not in progress), I feel somewhat jealous of the reporters out there in the Idaho countryside.
On the other hand, as a way of obtaining information, it leaves something to be desired. Since the media are not allowed into the conference, they instead stand outside grubbing for morsels. Read more