What Does a Venture Capitalist Do All Day?

Kevin Roose interviewed Marc Andreessen, a partner at Andreesseen Horowitz who is famous for being bald, saying crazy shit on Twitter, and other tech things. The interview is full of gems (Andreessen kind of says he supports a universal basic income?! He concedes that, “yeah, the meritocracy works if you know the right people.”)

Paying for the Things You Never Fathomed You’d Pay For

I was at lunch with a friend a few months ago when he looked down at his watch and said, “Oh I just got a message from [so-and-so]—I’ll need to dash off in 15 minutes.”

And Then They Came For Our Sandwiches

The Problem With Profitless Startups, Kevin Roose’s latest for New York Mag, talks about a thing I can’t stop thinking about lately, decades too late: FAKE MONEY. Or to be specific, VC money inflating new businesses which [arguably] wouldn’t otherwise succeed, and then go on to price out local/actual business who operate using more traditional business methods, such as selling goods and services for slightly more than they cost to provide. And then what?

Why Is Everyone Getting Acquihired Without Me

The Whelps of Wall Street: What It’s Like to Work as a Junior Banker in the Post-Crisis Era

Initially, Roose thought about going undercover as a banker, but as an English major who dropped an economics class after three weeks and a name that was easily Google-able, he switched gears and decided to shadow young bankers for three years as they left college and started their careers on Wall Street. His book, Young Money, is about what it’s like to work as a junior banker in the largest financial institutions in the world, and how Wall Street’s culture and recruiting efforts have shifted in the post-crisis era. I spoke to Roose while he was in town this week promoting his book.

A Peek into Wall Street’s Secret Society

There is a secret fraternity on Wall Street called Kappa Beta Phi whose inductees include successful financiers like Michael Bloomberg and former Goldman Sachs chairman John Whitehead. Each year the fraternity hosts an annual black tie dinner event to welcome new inductees, whom they force to dress in drag and perform skits and songs.

Google Buses Now City-Approved

There was an unusually well-attended transportation board meeting at San Francisco City Hall yesterday, as the topic of debate for the evening was the new pilot program for Silicon Valley commuter buses. The San Francisco MTA board of directors approved the proposal unanimously, which means that companies can buy passes to use city buses at cost, which come to about $1/stop per day, or about $100,000 per year.

Do I Need to Be Worried About The Default? Y/N

I’ve decided that we don’t need to be worried because it just feels better, not to be worried. Also, there is nothing we can do about it (besides yell at our elected officials to get it together). Just stay on our toes. Be agile. Retain flexibility.

Of Course There Would Be a Stock Manipulation Scheme in Grand Theft Auto V

Kevin Roose gives us a rundown of the stock manipulation scheme that players of Grand Theft Auto V planned, using the game’s stock-trading feature (apparently this exists!). Some players wanted to know if they could somehow game the stock market to make billions of dollars, and went on game forums and a subreddit to hash out a plan to do it. Their scheme did not go exactly as planned. Thank god that this is just a game and none of these kinds of stock manipulation schemes happen in real life.

Here Is Your Open Thread