Facebook on Wednesday pulled aside the curtain on a secretive unit headed by a former chief of the Pentagon’s research arm, disclosing that the social media company is studying ways for people to communicate by thought and touch.
For reasons that would take too long to explain I find myself in Durban, South Africa, this week at a gathering of 6,000 architects from around the world. I haven’t yet found one who likes Steve Jobs’ design for the new Apple headquarters — the Pentagon-sized edifice, now under construction in Cupertino, Calif., that Jobs described as looking a little like a spaceship had landed.
There is some good news and some bad news in venture capital performance data, released earlier today by Cambridge Associates. Good news is that the one-year returns from U.S. venture capital rose from 6.4% at the end of Q2 2010 to 8.2% by the end of Q3 2010, based on data from nearly 1,300 funds raised between 1981 and 2010. The problem is that venture capital is a long-term asset class. Cambridge reports that 10-year returns fell from a miserable -4.2% to a downright horrid -4.64% over the relevant period.