Venture capital stays local - Trust

Link An interesting request by VC firms is for the startup to be located within 20 minutes of the VC. This definitely gives Silicon Valley startups an immense advantage when looking for capital. The article also mentions other perks of starting a company in the valley. Interesting is the hidden reason behind the 20 minute rule: trust plays a huge role when investing large sums of money, and trust cannot be built without face to face interaction.

OPEC getting its act together quietly

Link It seems even the Republicans cannot get OPEC to keep oil prices down coming down the stretch in an election year. Good for OPEC. I hope alternative energy can thrive at around $60 a barrel. And just a little reminder for the voters on failed policies...

-- updated 10/5

I read a BusinessWeek article where Saudi Arabia was for lowering oil prices. But this NYT article seems to contradict that. OPEC now does not announce a price target or intentional supply modifications. A barrel of oil went up $2 yesterday.

Housing inventory increasing, prices drop

Link From my own observations of for sale signs in my neighborhood, some of which have been up for several weeks, I'd say that there is a definite slowdown in housing in the Bay Area.

Economist seems to hint, Iran Venezuela unlikely to cut production

Link Suggestive of calling Iran's bluff. Wonder what game theory says.