peHUB First Read

* Maybe Henry Kravis wants to emulate Warren Buffett because the Oracle is teflon when it comes to things like laying off 21,000 workers.

* Amity Shales: “Today the country can ill afford another trillion in stimulus. But if such an outlay is inevitable, then let that trillion go to a national Big Dig.” (We in Boston utter a collective “WTF?!?!?!”)

* The next generation at GTCR discuss their firm and the current state of private equity.

* Morning Call: U.S. futures point higher, London rises early, European shares climb on miners and oil, the Nikkei edges up and both Hong Kong and China shares improve.

* Dave Pakman of Venrock: My areas of focus for 2010

* Chris Dixon: What’s the right amout of seed capital to raise?

* Should Americans be making more of their own luggage?

* 10 huge ideas that flopped this decade (my only gripe with this list is the inclusion of “charter schools,” when the author seems to only be discussing the for-profit variety).

* Steve Fredrick and Don Rainey of Grotech Ventures: Hot and cold sectors for 2010 VC

* Paul Smalera: Companies that could have (should have?) died in 2009, but still walk among us.

* Alan Patricof shares some VC optimism: