Silicon Valley Not Putting Money Where Obama's Mouth Is

Investment dollars not following Obama's vision for green technology

Venture Capitalists in Silicon Valley may not throw the financial support behind the sorts of technologies that would make President Obama's proposals on climate change realistic, according to a New York Times Upshot article published Thursday

Noting "in Silicon Valley, some (investors) wonder whether the time has already come and gone," Upshot talks with noted V.C. Vinod Khosla, who had previously invested in numerous green energy technologies.

But after some high profile failures, many subsidized by the U.S. taxpayer, it appears that venture capitalists like Khosla are now shying away from pouring more of their own money into the technologies that would benefit from the policies Obama says he supports.

Khosla admitted that "Investors have not figured out how to get past the hurdle of high-volume incumbent technologies," and, as a result, he has changed the way he invests in so-called "clean tech":

We stay committed to the area, but will likely do less and will do only certain types of clean tech projects that are not capital-intensive. But we are staying with our focus on high-impact, high-risk technology, as it is essential for real solutions to climate risk.

Issues

People

Become a TruthRevolt member

Free eBooks, Inbox Updates and 1-click Petitions