the economy
2

Nothing Will Ever Be Good Again

For more than a century, the pace of growth was reliably resilient, bouncing back after recessions like a car returning to its cruising speed after a roadblock. Even after the prolonged Great Depression of the 1930s, growth eventually returned to an average pace of more than 3 percent a year. But Treasury Secretary Jacob J. Lew, citing the Congressional Budget Office, said on Wednesday that the government now expected annual growth to average just 2.1 percent, about two-thirds of the previous pace.

Perhaps, after you have imported your dreams directly into an Oculus Rift, you could grant Facebook the rights to them in perpetuity in exchange for a single [...]

8

What Was Money, Part Infinity

Uber, the most valuable bro startup in history, has been valued at $18.2 billion. Crazy, right? Or is it? asks Andrew Ross Sorkin. "But here’s another way to think about Uber’s whopping valuation: It is still too low."

After all, he notes, "consider the 'smart money' that plowed $1.2 billion into the company before its recent valuation, only 10 months after it was valued at only $3.5 billion: Fidelity Investments, BlackRock, Kleiner Perkins Caufield & Byers, Google Ventures, Menlo Ventures and Wellington Management and Summit Partners." This is true: not one of these venture firms has ever contributed to the wildly inflated value of a [...]