Felix Salmon

How Kickstarter facilitates financial investments

By Felix Salmon
May 31, 2012

Remember Flint and Tinder, the Kickstarter underwear project I wrote about last month? Well, it ended up raising $291,493 in all — almost ten times its initial $30,000 goal. In that sense, it’s like a mini-Pebble, the watch which raised $10,266,845 on Kickstarter and exceeded its goal by a factor of 102. Pebble was quite open about the fact that they were going to Kickstarter after having been rejected by more conventional sources of funding: a lot of VCs turned them down before the Kickstarter campaign went viral. And now, with $10 million in the bank, it’s not clear whether Pebble wants or needs any VC money at all.

Counterparties: The BRICs miracle may be ending

By Ben Walsh
May 31, 2012

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European dysfunction chart of the day, Greece vs Germany edition

By Felix Salmon
May 31, 2012

Mark Dow has found an astonishing set of results from a February opinion poll in Greece; it’s hard to imagine that Greek attitudes to Germany have improved since then. Here’s just one of the 13 slides:

Facebook’s SecondMarket muppets

By Felix Salmon
May 30, 2012

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Remember how excited SecondMarket was about the Facebook IPO? I’ll bet they’re not nearly as excited any more. Because if anything demonstrates that there’s a venture-capital bubble in Silicon Valley right now, it’s Facebook.

Counterparties: The debt crisis we’re wasting

May 30, 2012

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Addressing Europe’s risks

By Felix Salmon
May 30, 2012

What exactly does the EU’s José Manuel Barroso mean, when he says today that the EU should move towards “a full economic union”, which would include “a banking union with integrated financial supervision and single deposit guarantee scheme”? In a simultaneous EC report, there was also talk of “direct recapitalization by the ESM (European Stability Mechanism)” when banks run into solvency issues.

Leadership lessons from a Wall Street consultant

By Felix Salmon
May 30, 2012

I’ve been spending much more time than usual on Facebook, over the past week — you’d think the company has been in the news, or something like that. And so I found myself this evening clicking on a classic clickbait headline — “Two Lists You Should Look at Every Morning” — which had been shared approvingly by my ex-boss, and which came with the somewhat respectable logo of the Harvard Business Review.

Chart of the day: Do IPOs create jobs?

By Felix Salmon
May 29, 2012

In the wake of its fabulous report about how investors in VC funds are stupid, the Kauffman foundation has released another report, this time about IPOs. This one comes with a very bad press release, which says in breathless fashion that “nearly 1.9 million new jobs forfeited in the past decade as fewer entrepreneurial firms join ranks of public companies”. In fact, the report itself is much less alarmist, and a single chart does a very good job of debunking the idea that if we had more IPOs, we’d automagically have much more employment.

Counterparties: Measuring the shadow banking industry

May 29, 2012

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