"Here’s the summary. The market for seed capital is clearly broken. Most individual angels will only do about 1 deal per year, which means their portfolios lose money 40% of the time due to insufficient diversification. Even premier angel groups like the Band of Angels say they only do about 8 deals per year. Our math says you need to do 125 to achieve good diversification. On the other side of the table, only 14% of entrepreneurs who want angel funding will find it. Those that do will spend about 6 months looking for money instead of building their businesses."

"Advertisers face a barrier because in social media, human bonds do not require third-party sponsorships. There is no external content to sponsor. Data collectors, who now hope to turn Facebook's social streams into the Experian of the future, also may hit a wall when human connections can no longer be intercepted."

"There’s only one rule at hack day: build something you can demonstrate at the end of the event (Powerpoint slides don’t count). Importantly though, our hack days are not restricted to just our development team: anyone from the technology department can get involved, and we extend the invitation to other parts of the organisation as well. At the Guardian, this includes journalists.

For our first hack day, I put together a list of “tools for non-developers”—sites, services and software that could be used for hacking without programming knowledge as a pre-requisite. I’m now updating that list with recommendations from elsewhere. Here’s the list so far:"

"The Empirical Game Analysis Toolkit (EGAT) is a project designed around compiling various game-theoretic tools into one comprehensive suite."