  We discuss the fate of flat directions in higher derivative gravity by
studying two explicit examples, namely higher derivative gauged supergravity in
five dimensions and higher derivative type IIB string theory in ten dimensions.
In the first case, the supersymmetric spinning black hole solution in
asymptotically AdS spacetime, found by Gutowski and Reall, is analyzed. In this
case we find that the flat direction at the two derivative level is not lifted
after addition of higher derivative terms, and as it turns out, this result
holds even for non-supersymmetric deformations of the higher derivative action.
For the rotating D3-brane solutions in type IIB theory, the dilaton
parametrizes a flat direction at leading order, but its fate changes upon
including order (\alpha^\prime)^3 supersymmetric higher derivative corrections
to the type IIB action, i.e. its leading value gets fixed.
