peHUB First Read

* Fred Destin: How a great entrepreneur deals with complexity * Reddit's divorce from Conde Nast: How a social media dream deal fell apart. * SEC told to change the way it chooses investigations, in order to avoid the type of breakdowns that led to Madoff. * Morning Call: U.S. futures mixed, London rises early, European shares extend losses, the Nikkei falls 0.5% and both Hong Kong and China shares lose ground. * Tim O'Reilly: The war for the Web * What corporate America is reading * Marvin Clark: 10 reasons to believe we're in a depression * I'm still in LA, but good to hear the home state's unemployment rate actually dropped last month (which is different than growing more slowly).