Skybird X has previously said that asian discrimination in education (universities and even high schools!) is less important today than it was in the past b/c many asians simply gave the finger to big business after college and founded their own companies. the data somewhat vindicates this view. cb insights is a business intel company that has just released a survey on venture capital companies. included in the questions posed to these companies was what was the racial makeup of the teams getting funded. the results are as follows

race | population % in US | recipient of capital

white | 77% | 87%

black | 11% | 1%

asian | 4% | 12%

additionally, the survey found that teams comprising completely of asians were the ones that received the largest amount of capital. the reason given for such low black representation is that were hardly ever black entrepreneurs who pitched ideas to begin with. 92% were male, harvard grads edged out stanford grads in number, and surprisingly, mba’s outnumbered master of science degrees.

This isn’t new or anything, but labor stats that just came out show asians are doing better than other groups in staying employed and also in median earnings.

Unemployment in the U.S. has risen dramatically since the economic recession commenced in December 2007 – as a whole, the jobless rate climbed from about 5 percent to 9.5 percent through June 2010.

However, while Asian-Americans have also witnessed a rise in joblessness, their rates remain below the comparable figures for whites, blacks and Hispanics.

Joblessness for Asians during this period climbed from 3.7 percent to 7.7 percent, meanwhile, the June 2010 rate for African-Americans exceeds 15 percent, while Latinos are just above 12 percent (both well above the average). Whites are just under the broader average at 8.6 percent.

Also:

Among the major race and ethnicity groups, median earnings for black men working at full-time jobs were $632 per week, 75.4 percent of the median for white men, $838. The differencewas less among women, as black women’s median earnings ($585) were 85.8 percent of those forwhite women ($682). Overall, median earnings of Hispanics who worked full time ($529) werelower than those of blacks ($607), whites ($756), and Asians ($873).

asian men outperformed every other group that the labor department has stats for, earning a median $901 a week. asian women were 2nd only to asian men at $854 a week. (keep in mind that these are median numbers. if the average wage was considered, whites would still out-earn all groups because of outliers like bill gates.)

of course, not all asian sub-groups are equal, so several southeast asian groups such as hmong and cambodians underperformed their other asian peers. still, it’s nice to see asians are doing well overall comparatively.

“A woman walked into a Quiznos sandwich shop at lunchtime and ordered a ham and cheese sandwich, a bag of chips and a soft drink.  At checkout, the clerk said, ‘That will be $6.21, ma’am.’  The woman, already sipping the drink, replied, ‘Actually, I have insurance for this. My plan will reimburse you if you just send them the bill. Here’s my membership card.’ ”

Full article: Quiznos run like healthcare? (Uses Adobe AIR)

Misfortune shows those who are not really friends. – Aristotle

there’s a bit of unrest in greece lately over the planned austerity measures. greece’s misfortune is almost wholly their own fault as their government had no spending restraint for the past decade. the rest of europe, including a very grudging germany, bailed the greeks out, but only after imposing severe economic austerity on the nation. the greeks learned that they don’t have many friends in the supposedly lubby-dubby EU even though they share a single currency. the germans only agreed to the bailout when they realized the fate of the euro itself depended upon their bailout funds. greece was, in effect, an island.

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“Chinese company Hybrid Kinetic Motors announced plans Thursday to construct a new green vehicle manufacturing plant in south Alabama, bringing 5,000 jobs to the state.

“Physicians will not be bullied into bankruptcy. Our system needs reform, but what’s being hammered out in Washington is not the answer.

Two weeks ago the Mayo Clinic shocked the nation when it closed the doors of one of its Arizona clinics to patients on Medicare. Just this past June President Obama himself praised Mayo as a model of medical efficiency noting that Mayo gives “the highest quality care at costs well below the national norm.” If Mayo feels compelled to walk away from this government-run program, others will surely follow. The nation must understand why.”

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how would u react to this situation?

u are playing an impunity game in a game theory study. another player, player a, has been offered $100, and is instructed to share with you, player b, however much he wants and keep the rest. he offers to share $20, and will receive notice of either your acceptance or refusal of the money. do u accept? to reiterate, he keeps his $80 regardless of whether u accept his offer or not.

if u didn’t accept the initial offer, would u accept the money if player a won’t receive notice of your acceptance or refusal?

if u did accept the initial offer, would u still accept it if player a offered u only $2?

to see why i’m asking the question, read this link.