peHUB First Read

* Mark Geimen asks which is worse: Inflation of deflation? * Jon Karlen: Capital efficiency in cleantech, and why Vinod Khosla is wrong * Heidi Moore: Endowments and pension funds aren't getting enough blame for enabling Wall Street excess. * Morning Call: U.S. futures point lower, London rises early on miners, European shares extend rally and the Nikkei climbs. * Google and China are back in business together * McKinsey: The five types of successful acquisitions * Las Vegas tries to make its glitz more energy-efficient * Economist: Attempts to ban online gambling are doomed * Bill Gurley: Will Google's deeper vertical integration lead to higher revenue?