peHUB First Read

* Paul Graham: What happened to Yahoo

Laurence Kotlikoff: The U.S. is bankrupt and we don’t even know it

* Megan McArdle argues that the public equity premium may be gone forever: “Once everyone believes that the stock market offers high returns for relatively little risk, that notion stops being true.”

* Morning Call: U.S. futures mixed, London rises early, European shares stay static and the Nikkei hits a 13-month low.

* Are the Barclays layoffs just the first axe to fall?

* Pav Jordan: CPPIB and the mathematics of explosive growth 

* Christopher Mims: Why we need the giant tablet computer known as Kno

* Inside the Babson summer venture program, from a student’s perspective

* Randy Komisar of Kleiner Perkins says that CEOs are like different breeds of dogs

* Peter Lattman, one of the best PE reporters in the biz, is leaving WSJ for NYT

* Tweet of the Day: @ReutersJoe i wonder if #GM will offer 0 percent financing for investors who buy its IPO

* Tweet of the Day II: @ezraklein “Also, what’s the probability that if Linda McMahon loses, her failed campaign gets worked into a WWE plot? About 100%, right?

* Trying to decide if I have space to park the Dharma van… or maybe I’ll just settle for Eko’s staff.

* This Week in Venture Capital, with Brad Feld: