peHUB Second Opinion 5.17.10
Behind the battle for Psychiatric Solutions: a moral fable on bidding technique, in auction form. Default: California's default risk is now higher than that of Thailand - which, you'll remember, is a blood-spattered, coup-plagued war zone. The lesson: sunny complacency is as bad for a municipality's economic health as the prospect of widespread civil unrest. Startups: For success in the startup world, fail early and often, at least one expert advises. But don't forget to succeed, or your VCs will be incandescent with rage. Or maybe they'll write a rock song about you. Sovereign wealth funds: They tightened the spigots in 2009; their assets are expected to grow; not earning fees for banks; Prince Alwaleed is not doing as well as Warren Buffett; a general overview here.
