peHUB First Read

* John Boyd: Later-stage implications of the seed-stage land rush

* Kit Roane: 4 reasons why Texas had a better recession than California

* So much for amicable: Larry Schloss, new CIO of New York City, has sued his former partners at Diamond Castle Holdings for $10 million.

* Morning Call: U.S. futures point higher on Intel results, London falls early, European shares slip on financials and the Nikkei climbs.

* Wrap-up of MobileBeat 2010

* Steve Spillman: Twitter needs to rethink its retweet

* Text of Jeff Bezos’ graduation speech at Princeton

* Rob May: Why entrepreneurs should want VCs who ask tough questions

* Hank Paulson supports the financial reform bill. After some arm-twisting, so does Scott Brown.

* Saboteur? One of those Russian spies worked at Microsoft. Is it possible he was responsible for all the Windows glitches?

* Hey Atlanta: The next peHUB Shindig is in your town on August 5. Join us!

* Pic of the Day: The only proper way to hold an iPhone 4

* Mintz Levin’s Joel Papernik on biotech M&A: