VCs Have Lots of Problems, But Access to Capital Isn't One of Them
I respect Tom Friedman. Hell, I envy him. But the man has taken temporary leave of his senses, by repeatedly arguing that some sort of venture capital bailout is in order. First, he penned a piece arguing that VC-backed cleantech companies were "dying like flies," due to a lack of capital. I’ve repeatedly written about the lack of project finance for the handful of VC-backed startups that need it (mostly facility-heavy electric vehicle and biofuel producers), but Friedman vastly overstates the problem. Moreover, he fails to note that a number of firms rushing in to fill the void, including Blackstone, C Change, CMEA and Kleiner Perkins. Then came a follow-up column, in which he wrote:
23 February 2009•2 mins read
