Wednesday, November 26, 2008
Or is it the New Green Deal? Whatever it is, I think it is remarkable and my bet is it is going to be a big fiasco. I think all of the VC money going into it, and I think it is a lot, is spurred on more by the hope of government subsidies in one form or another than by real economics. It strikes me as a strange sort of mania. It looks like we are pouring a lot of money we don't have into technologies that very well may not work to solve a problem we are not sure we have. It's very hard to make money even with technologies you already have to solve problems that you are sure you have. VCs are said to be herding creatures and this proves it.