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February 23, 2009



The only problem is that the VC industry has far too much money already! Their returns for the average VC fund for nearly every vintage since 1999 has been below T-bills (with a tad bit more volatility).

Sure, it's a better use of the cash, because maybe we'll get something useful out of it (as opposed to Detroit) but it's still not a good use of money.


Friedman's academic credentials don't include much of anything having to do with economics. According to Wikipedia he has a BA in Mediterranean studies and a Masters in Philosphy of Middle Eastern studies.

If you look at Friedman's record, it appears that his interest in economics developed simultaneously with his brother in law John Bucksbaum pissing away his wife's family fortune which was around $4 billion and has shrunk right along with the decline in GGP shares from over $50 to less than a dollar. Maybe it's time for Friedman, the psuedo environmentalist to downsize out of his 11,000 square feet palatial home to something more in keeping with the shrunken prospects of having married into the Bucksbaum fortune?

Lucky for him his mother in law still Carolyn Shwartz Bucksbaum sits on the Grinnell College Board of Trustees so he's set to garner $50,000 by giving a commencement address to the Grinnell grads next May. Talk about insider dealings...oh my!!

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