Tuesday, December 20, 2011

Making Money Now


Money fan by OnlyHotTopics


This week the Mystic Valley Regional Charter School in Malden,
Massachusetts, put a highly regarded teacher on paid leave after
the local Fox affiliate
revealed that he has appeared in several pornographic movies.
No one alleges that Kevin Hogan, a crew coach who is also head of
the school's English department, did anything illegal, and he gets
high marks as a teacher. Yet the school is investigating him,
ostensibly for giving an incomplete account of his work experience
prior to taking his current job. When it broke the story on
Tuesday, Fox 25 seemed mostly interested in titillation:



Kevin Hogan is an English teacher and crew coach at a top-rated
Massachusetts public high school, but he brings some unusual
experience to the job: until recently, he was starring in
pornographic movies....


He can also be found on the Internet and in adult entertainment
stores under his screen name: Hytch Cawke.


His movie credits include "Fetish World" and "Just Gone Gay 8,"
and FOX Undercover found his third movie, whose title is not fit to
reveal in a family news outlet, in a local adult store. It features
him answering an ad to have sex for money.


"Hi, I'm Hytch and I just answered the ad and now I'm here to
see what it’s like to be with a guy," he says to the camera.


But Hogan wasn't so talkative when FOX Undercover's camera was
on him.



To provide a fig leaf of legitimate public interest, the TV
station quoted three parents who were disturbed by the news for no
clearly articulated reason, one of whom also said: "The kids really
love him. He's been a great addition to the team." The story also
noted that Hogan had "flawless references."


In a follow-up segment the next day, Fox 25
reported that the initial piece "sparked a flood of responses,
many of them critical of the story. One tweet said 'Kevin Hogan did
not deserve that. He's a good teacher with students supporting
him.'" The headline on a
story posted this morning asks, "Are private lives of teachers
truly private?" Which seems like something Fox 25 should have asked
before ruining this guy's life.


The closest the station has come to an intelligible
justification for its exposé is this
quote from a spokesman for the state Department of Elementary
and Secondary Education, which also is investigating
Hogan: “We expect teachers to hold a very high moral standard.
They are role models for students."


So even if everyone concedes a teacher is good at teaching, he
is disqualified from the job if he behaves immorally off the clock.
Who decides what counts as immoral? Does it have to involve sex?
Promiscuity and adultery too, or just making porn? Does it matter
whether it is gay or straight porn?


Obviously, no one forced Hogan to make those movies. But should
he have taken it for granted that he was throwing away his teaching
career by doing so?


[Thanks to Andrew Friedrich for the tip.]





Founders Fund, investors in Facebook and Space X, last week announced it had raised $625 million for its fourth fund, larger than the first three funds combined. Want some of their money? A promising robotics idea could help.


"We'll be looking at that [space] more in the next five years," partner Bruce Gibney told Private Equity Hub. There's been relatively few promising robotics companies until now, he said, "but people are becoming more commercially disciplined–they're taking it seriously now as a business rather than as a science project."


The fund, founded by PayPal co-founder Peter Thiel, is also interested in artificial intelligence, which it currently has three companies in stealth mode.


How does the six-year-old fund make decisions about its investments?


Unlike most venture capital firms, not at Monday morning meetings.   


"We’re just highly skeptical about most traditional decision-making models, which we think are focused on process and not results," Gibney said. "At most venture firms, you have to be at Monday meetings, when maybe you should be meeting with a great company. Everyone has to talk for roughly the same amount of time. And there’s this strange pressure to approve someone’s deal, even if you’re skeptical of it, because you want to get your own deal approved. We think [that approach] doesn’t produce particularly good results."


Gibney noted that Founders Fund partners don't need regular Monday meetings because they have similar hobbies and overlapping social lives. For example, partner Ken Howery was Gibney's college roommate and Howery now lives with Luke Nosek, another partner.


But the larger the deal–initial investments tend to range from $500,000 to $5 million–the more consensus is required. "And we seem to achieve consensus on all our significant deals," Gibney said. "Those on which we all agree tend to be the best, too," he said.


Gibney also explained how the fund's investment in Facebook stacked up against its principle of backing entrepreneurs doing valuable work.


He pointed out that in 2004, Facebook was not an obvious investment candidate.


"It wasn't clear that social networking would be important or big or could even work technologically," he said.


Friendster, which the fund also invested in, became slower as it became more popular, he noted. "It turned out that managing these connections was computationally complex," Gibney said. "[Figuring that out] was something that we think was important and quite valuable and in that way, it fits in with our core thesis.









Read more:

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  • Behind the Scenes of an Overhyped Launch



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