peHUB First Read

* Fred Wilson: Parting ways with a founding team member * Zac Bissonnette: The hidden lifestyle costs of going to an elite private college * Matthew Wurtzel: "Apple's new terms for publishing ads on its mobile devices aren't just a blow to Google Inc. and its newly acquired AdMob unit. They could also pose a problem for venture capitalists invested in other, still-independent mobile ad companies." * Morning Call: U.S. futures point higher, London rises early, European shares hit 4-week high and the Nikkei climbs on exporters. * Alex Benik: The VMotion myth * We are one step closer to having lightsabers * Combatting the complexities of carbon fraud * Karate Kid netted $56 million, even though the kid didn't learn karate. * Lehman lesson: If you think your firm might end up as the subject of a massive fraud probe, be sure to avoid using certain key terms in emails.