peHUB First Read

* PIK toggles are back. No, this is not a premature April Fool’s story.

* Theresia Gouw Ranzetta: Rx for Silicon Valley success

* Kim Masters: Bill Clinton’s $20 million breakup with Ron Burkle

* Morning Call: U.S. futures point lower, London rises early, European shares climb and the Nikkei flattens.

* IBM has a plan to woo software startups

* Ethan Epstein: Postal service cutbacks could affect Netflix’s bottom line

* PE Council puts out study claiming that PE-backed companies “weathered the Great Recession better than their peers.” Maybe, but that big debt cloud is not yet close to clearing…

* Kleiner Perkins has a media briefing set for 10:30am PT, to discuss “developments in the mobile content revolution.” An iPad fund? Something totally unrelated? And John Doerr will be there, taking a break from his cleantech focus (a return to his place of former glories?). We’ll have someone there, and let you know what they say (along with the rest of the blogosphere).

* The future is dark for photojournalists

* Felix Salmon: Where is the Politico of finance?

* New VC blog alert: Allegis Capital is up and posting