WALL STREET JOURNAL
REVIEW & OUTLOOK
Updated December 27, 2012, 6:59 p.m. ET.
Silicon Valley’s Green Energy Mistake Political venture capital turns out to be a loser.
” …When Silicon Valley was committed to addressing market needs, it enriched the world with Intel, Apple, Google GOOG +0.21%and Cisco. When venture investors tried to profit from political agendas, they saddled taxpayers with stinkers like Abound Solar, Range Fuels and the infamous Solyndra, which went bust last year after receiving more than half a billion dollars in federal loans.
Success has proven elusive even for the smartest guys in the solar-heated room. Five years after Al Gore joined the prestigious venture-capital firm Kleiner Perkins to back environmentally correct companies, the collaboration has yielded few successful exits for Mr. Gore and his partners, along with some spectacular disasters…. “