VC Confidential: For an insightful read into how humility can help business, investors, and venture capitalists weather stormy markets, check out James Montier's recent Societe Generale piece, An admission of ignorance: a humble approach to investing (*.pdf link). From Montier's short missive:

I fear that somewhere there exists a secret school (a Hogwarts for brokers and investment
managers) whose first rule is that one should ever admit ignorance, and where any semblance
of humility is surgically removed. However, if one can accept that you can’t and don’t know
everything (or even very much at all) then a number of insights into investment start to flow.
For instance it makes no sense to forecast, the margin of safety becomes central as a buffer
against ignorance/error, market timing should be eschewed, and finally cheap insurance
should be sought out. Humility should be central in the investment process.

To find out the secret to a unpretentious approach to the finicky world of finance simply follow Montier's advice and know that sometimes humble pie is a dish served warm and tasty.

Internet Biz Tax Tips: Kristine McKinley takes a point-by-point look at how President-elect Obama's tax plans will affect small business owners in a topical post. A somewhat significant tax change would be certainly welcome for many entrepreneurs: "Health Care Tax Credits. Obama’s health plan centers around tax credits that, together with his other proposals to expand pooling options and ease enrollment, will ensure that health insurance is available and affordable for all families." McKinley comments on this credit: "I can’t believe I’m admitting this, but when I first started my business, I did not have health insurance.  I chose to go without for about six months while I worked to build my business.  I’m not alone in this regard; I know many, many self employed individuals (and families) who don’t have health insurance because it’s just too expensive to purchase it on their own (another employer sponsored benefit given up to pursue the American Dream).  So, while I’m a little concerned about 'expanding pooling options' and some of the other changes that have been discussed, I’m all for a tax credit that would make health insurance more affordable for those who don’t have it through an employer." Any help to take the specter of health problems off the shoulders of those inclined to "go it alone" and start their own gig would certainly be welcome and help them to more aggressively fund their efforts if this change is enacted.

Forbes.com: A column by George Gilder discusses the increasing value of creativity in a rapidly stagnating and declining world economy with a special focus on how businesses will be affected by the coming changes - post-bubble. Gilder writes, "The real source of all growth is human creativity and entrepreneurship, which always comes as a surprise to us, especially in the worst of times..." and although the current meltdown might not qualify as one of those times for some, it certainly has plenty of investors and dependent businesses spooked. But Gilder sees a return to the "good old times" in the not-to-distant future: "Because the U.S. remains the world's largest economy and still leads the world in business and technological creativity, the current crisis is mostly confined to boondoggles of finance. It will pass rapidly and evolve into a new boom. Emerging is a parallel unregulated financial system based on entrepreneurial creativity and invention." For more on what's in store for this system and the creatives behind the helm of this new ship to prosperity, read The Coming Creativity Boom.

The Guardian: In a welcome bit of innovation/technology news, John Vidal and Nick Rosen report on a confirmed plan to build and install small-sized nuclear reactors that can power 10,000 homes in the next few years, starting in, of all places, Romania. John Deal, chief executive of Hyperion, whose company is licensing the technology for the new power plants from the Los Alamos lab in the US, gives us further details:  "The first confirmed order came from TES, a Czech infrastructure company specialising in water plants and power plants. 'They ordered six units and optioned a further 12. We are very sure of their capability to purchase,' said Deal. The first one, he said, would be installed in Romania. 'We now have a six-year waiting list. We are in talks with developers in the Cayman Islands, Panama and the Bahamas.'" The plants have no moving parts, no weapons-grade fuel and will be buried in the earth after being delivered on the back of a semi-tractor trailer. Is this the brave, new world of cheap energy or just another environmental disaster waiting to happen?

VentureBeat.com: Apple Computer had great hopes when it poached IBM's microprocessor guru, Mark Papermaster, but a District Court judge has put a kibosh on the move. MG Siegler reports, "The transition from departing iPod chief Tony Fadell to new vice president of Devices Hardware Engineering Mark Papermaster is not going to an easy one for Apple. A U.S. District Court judge ruled yesterday that Papermaster would have to cease work immediately for Apple while allegations of a breach of contract with his former employer, IBM, is looked into..." Our old friend the Non-compete contract appears to be rearing its ugly head, and this time there's no likely way to avoid complying with it. Check out the rest of the story in Judge to Apple’s Papermaster: Thou shalt not work.