Thursday, 2 October 2014
Last updated 17 hours ago
Jun 30 2011 | 1:28pm ET
As though Treasury Secretary, noted economist and Harvard University president weren’t enough, Larry Summers is about to add another job title to his resume: venture capitalist.
Silicon Valley’s Andreesen Horowitz announced Wednesday that Summers would be joining its team as a special advisor.
Summers and Marc Andreesen, the co-founder of the VC firm, told the Washington Post on Wednesday that Summers’ lack of tech experience is not a problem—he’s been hired for his “economic knowledge.”
Summers told the WP he took up the offer because of his enthusiasm for the internet industry:
“Information technology stands out because of the pervasiveness of its impact. Every part of our economy from the way people bank and the way baseball teams set strategies and choose players to the way kids learn to the way restaurants collect their payments and tips are being transformed by information technology,” he said.
Andreesen wouldn’t say what sort of compensation Summers would receive, only that it would likely include a stake in the companies or the fund.
Andreesen Horowitz has investments in Facebook, Digg and Zynga.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...