Google Mafia Aims to Take Over Silicon Valley

(NEWSER) - A Silicon Valley couple has forsaken a traditional wedding registry for venture capital, Gawker reports. “The World's First Start-up Wedding Registry” doesn’t ask guests for appliances or candlesticks; instead, they can give enough to “feed an outsourced engineer for a day” or pay a month’s worth of utilities for the couple’s startup, Aboomba. What better gift than a slim shot at Internet superwealth? More»

(NEWSER) - Facebook’s recent deal to let employees sell some of their stock to private investors has sent Silicon Valley scrambling, as workers at other start-ups ask for similar deals, the Wall Street Journal reports. Start-ups rely on the promise of future stock sales to lure and retain talent, but with the market upheaval scaring most companies away from public offerings, employees are getting restless. More»

Confidence gradually rebounding with stimulus plan

(NEWSER) - Venture capitalists are starting to get their confidence back after an exceptionally timid year, the New York Times reports. A key index shows the administration's efforts to stabilize the economy have given investors glimmers of hope. "There is some degree of stability in the financial markets and that allows a little bit of optimism that we will get to the other side of this thing," says the survey's publisher. More»

Investments will be in non-Internet fields

(NEWSER) - Google will launch a venture capital fund next year with an initial capitalization of about $100 million, reports the Wall Street Journal. Unlike other corporate funds that back companies in their own industries, Google Ventures will look beyond the Internet to also invest in biotech, health care, and environmental technology. The fund managers say they are looking to “find young companies with truly awesome potential.” More»

Adviser thinks Obama should open power grids, fund innovation

(NEWSER) - Google CEO Eric Schmidt thinks the government needs to fund a massive reinvention of America’s energy infrastructure, opening up the grid to startups and funding innovation, Information Week reports. It’s crucial “that small startups with funny names get founded and funded in the new regime,” said the adviser to President-elect Barack Obama. “That’s where the wealth will be created.” More»