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Course Requirements
document IMAGES-005-HOUSE_OVERSIGHT_019397.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Course Requirements: e Midterm: Wednesday October 14 (in-class, closed book; but exam will provide most of the basic formulas you might require, to lessen need for memorization). Analytical problems on the exam will closely parallel material covered in problem sets (but will gen...

creativity and he said that this class was certainly not about that. | disliked and
document IMAGES-002-HOUSE_OVERSIGHT_013661.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

creativity and he said that this class was certainly not about that. | disliked and feared him. He seemed to feel (and wrote a note to my parents to the effect) that, being “too arrogant” | needed to be “brought down a peg or two.” | had gotten the best grades in the first two ex...

the ability to represent all stockholders without a conflict of interest
document IMAGES-007-HOUSE_OVERSIGHT_024314.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Table of Contents * the ability to represent all stockholders without a conflict of interest; * the ability to work in and promote a productive environment; * — sufficient time and willingness to fulfill the substantial duties and responsibilities of a director; ¢ the high lev...

i USA Inc. | Introduction 13
document IMAGES-006-HOUSE_OVERSIGHT_020848.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Summary KP i USA Inc. | Introduction 13 Highlights from F2010 USA Inc. Financials e Summary — USA Inc. has challenges. e Cash Flow — While recession depressed F2008-F2010 results, cash flow has been negative for 9 consecutive years ($4.8 trillion, cumulative), with no end to...

How Did USA Inc.'s Financial Reality
document IMAGES-006-HOUSE_OVERSIGHT_020860.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

How Did USA Inc.'s Financial Reality Get to this Difficult Point? USA Inc. Has Not Adequately Funded Its Entitlement Programs Recessions come and go (and affect USA’s revenue), but future claims (related to entitlement program commitments) on USA Inc. now meaningfully exceed i...

www.kpcb.com USA Inc.| Summary 437
document IMAGES-006-HOUSE_OVERSIGHT_021060.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

www.kpcb.com USA Inc.| Summary 437 Highlights from F2010 USA Inc. Financials Summary — USA Inc. has challenges. Cash Flow — While recession depressed F2008-F2010 results, cash flow has been negative for 9 consecutive years ($4.8 trillion, cumulative), with no end to losses in...

Consequences of Inaction — Investor Perspective
document IMAGES-006-HOUSE_OVERSIGHT_021049.txt Jul 2, 2009 House Oversight Committee — Epstein Estate Records (Nov 2025)

Consequences of Inaction — Investor Perspective e Short Term, No Problem Yet Global bond investors, in part, have looked past USA Inc.’s deteriorating financials because growth, inflation, and Fed purchases matter more, and because income statements and balance sheets of many o...

Thank you for reviewing this publication
document IMAGES-003-HOUSE_OVERSIGHT_014617.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Thank you for reviewing this publication which is intended to discuss general market activity, industry or sector trends, or other broad-based economic, market or political conditions. It should not be construed as research. Any reference to a specific company or security is for...

Improving operating efficiency
document IMAGES-006-HOUSE_OVERSIGHT_020839.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Improving operating efficiency. With nearly one government civilian worker (federal, state and local) for every six households, efficiency gains seem possible. A 20-year trend line of declining federal civilian headcount was reversed in the late 1990s. Resuming that trend would...

agencies—the so called “alphabet agencies”—such as the FCC, FPC, SEC and FDA. The rest
document IMAGES-004-HOUSE_OVERSIGHT_017141.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

4.2.12 WC: 191694 agencies—the so called “alphabet agencies”—such as the FCC, FPC, SEC and FDA. The rest were run of the mill criminal cases—murder, robbery, rape, assault and other street crimes. It was a perfect combination for a budding law professor who was interested in con...

Let us start by substituting the notes of the musical scale for the
document IMAGES-003-HOUSE_OVERSIGHT_015949.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Software 259 Let us start by substituting the notes of the musical scale for the letters of the alphabet to create a piece of ‘music. Since it is a direct analogue of the word problem, we have created a non-computable piece of music. It is definitely non-computable, but is it mu...

there is a constant structure with some activity going on inside it. When von Neumann’s
document IMAGES-004-HOUSE_OVERSIGHT_016854.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…Within the “machine” was a horizontal line of squares which acted as a finite linear tape, using a subset of the finite alphabet. It was the symbols in those squares that encoded the machine of which they were a part. During the machine’s reproduction, the “tape” could move eithe...

Price objective basis & risk
document IMAGES-003-HOUSE_OVERSIGHT_014939.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Price objective basis & risk Alphabet (GOOGL / GOOG) Our price objective is $1025/$1025, representing 17x our core 2018 Google non-GAAP EPS estimate (excluding non-Google losses), plus $118/share in cash, or 21x core Google GAAP EPS plus cash. Alphabet has traded at 12-24x forw...

Company referenced Ticker Price
document IMAGES-003-HOUSE_OVERSIGHT_014938.txt Apr 5, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

Company referenced Ticker Price Alphabet A GOOGL 848.91 Alphabet C GOOG 831.41 Amazon.com AMZN 909.28 Bankrate RATE 975 Care.com CRCM 11.68 eBay EBAY 33.81 Expedia EXPE 124.97 Facebook FB 141.85 Fitbit FIT 571 GrubHub GRUB 33.27 LendingTree TREE 117.8 Match Group MTCH 16.45 Netfl...

174 Teaching Minds
document IMAGES-007-HOUSE_OVERSIGHT_023920.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

174 Teaching Minds Rule #1: A teacher should never tell a student anything that the teacher thinks is true. Now, on the surface this seems ridiculous. How can you resist telling students the truth? Isn’t that your job as a teacher? No. It isn’t. Why not? Because, in general, s...