Peter Kafka

Recent Posts by Peter Kafka

Here to Save Iceland, Start-Ups: Björk

The econalypse is about to crush a slew of start-ups. Which could make it an excellent time to invest in start-ups. If this logic makes sense to you, you may be:

  • A very successful angel investor, who conveyed this logic to me this morning from the confines of a very, very nice Manhattan apartment (I’ve only seen views of Central Park like that from an airplane).
  • Or Björk, the Icelandic sort-of popstar.

More info on the latter: Björk has announced the creation of a new venture fund, named…BJÖRK.

It is “intended for investors seeking investment opportunities in new venture creation and the business development of small companies with the objective of catalyzing the recovery of the Icelandic economy,” and will invest in companies “that create value through the uniqueness of Iceland’s nature and culture,” according to Audur Capital, an Icelandic financial services company that will manage the fund.

It’s not clear whether Björk has contributed anything to the fund beyond her name. Audur is putting up the initial seed investment of 100 million Icelandic kronur, which these days is the equivalent of $826,000. Audur describes itself thusly: “We are aware of risk and social responsibility, and we are unafraid to put feminine values into finance…. If you are looking for an investor or an advisor who can bring not just financial capital, but also emotional capital, we may be just your partner.”

[Image Credit: The TripWireNYC]

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work