Another article following the withdrawal of Google from the development of renewable energy
"Silicon Valley’s defenders continue pretending that an exclusively private venture capitalist risk-taking model in green energy can deliver clean, reasonable priced and secure energy. The storyline is “trust us – give us more money and time”. This investment model, exactly the same which has produced the most intense and dangerous global economic and financial crisis since 1945, is basically an elitist flight from reality, featuring a clique of influential and rich business players who “sincerely believe” they deserve huge government subsidies – while proclaiming their proud support of private venture capitalism. All too often, investor and government cash flowing to such ventures is frittered away on elitist pet themes, with little or no regulation, oversight or obligation to perform."
'via Blog this'
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