How About a VC Powwow With Obama?
I was encouraged to read that our new president is meeting with the CEOs of 13 major companies today (IBM, Google, etc.) to talk about the economy (see list of CEOs below). I would be really impressed if Obama organized a similar powwow with venture capitalists. Who better to give him insights about innovative technologies that could use a boost from the stimulus package now being considered in Congress? Pumping hundreds of billions of dollars into the economy will certainly give it a boost, but it will only be short-term if those dollars aren't focused on areas that will pay long-term dividends. For example, I'd rather see Uncle Sam take the $1 billion it plans to give to Amtrak and put it into infrastructure projects to connect far-flung solar installations with the electrical grid. Venture capitalists are the best businesspeople for Obama to consult on this issue. They have deep insight into clean technology because they constantly meet with startups on the cutting edge, but they also have a pragmatic outlook because they are charged with returning money to their investors.
