Lunchtime Links: Further proof that the real money is now in start-ups
11 years ago, everyone wanted to get out of banking and work for a dot com. Now the dotcom bubble is back. If you want to make retirement money which won't get you vilified as an enemy of the taxpayer, internet-based start-ups are where you should be.
The latest internet entrepreneur in line for a payoff is Charles Sharland, founder and chief executive of AppSense, the Cheshire-based technology company in which Goldman has just invested $70m.
Goldman's is the first outside investment in the company, which allows people to access their corporate laptops remotely. Last year alone, AppSense revenues increased 60%. Come the IPO, Sharland will clearly become rich. It's worth bearing in mind, however, that he has had to wait a long time for this payoff: AppSense was founded in 1999. Bankers can't cash out quickly. Nor can entrepreneurs.
Dominique Strauss-Kahn has said it is "scandalous" that bankers are enjoying bonuses rivalling the sums of before the financial crisis, attacking their rewards as "verging on the criminal". (Telegraph)
When the South Sea Bubble burst in 1720, triggering Britain's first financial crisis, one MP called for those responsible to be thrown into sacks with snakes and drowned in the Thames. (Telegraph)
John Mack packs a gun. (NYTimes)
Does the Treasury back Barclays on Merlin? (Independent)
A top UK-based regulator has been nominated to run the new pan-European watchdog. (Financial Times)
Stuart Gulliver is employed through a Dutch-based company called HSBC Asia Holdings and his principal place of work is Hong Kong. (Guardian)
Lloyd Blankfein, hypocrite. (Bloomberg)
Deutsche Bank is the place to work in Asian FX. (WSJ)
What is the best way to pitch myself to a boutique investment bank? (Quora)
BarCap will not have to pay $13bn to the Lehman estate. (Financial Times)
Dick Fuld is acting as if he has nothing to worry about. (FoxBusiness)
What it's like to live like Erin Callan. (CNBC)
The immense ego of Jeffrey Grundlach. (Barrons)
Compulsory fake smiling will worsen your mood. (NYTimes)
Play this online poverty simulator. (Spent)
