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Command economy and venture capitalIt's all about the political
connections
Behold the new model for venture capital success in
America.
Rent-seeking is the new venture capital model, Kleiner Perkins managing partner Ray Lane explained to an electric car-conference here Wednesday. In an extraordinary speech, Lane laid out how market socialism can guarantee profits for politically connected VC firms like Kleiner — far more preferable to the old model of “throwing a dart at a dart board,” as Lane has put it. While Silicon Valley–based Kleiner made its reputation as a financier of tech startups like Netscape, Lane confided that they are inherently risky ventures in uncertain, fast-moving markets. Do you understand what's happened? It's no longer about picking the company that has the best chances in the market place. Now it's about profits guaranteed by political patronage. Suck up to the Congressman or bribe the bureaucrat. Sometimes I really wish I hadn't seen it. They want to destroy your freedom with a command economy. And it took one year. 
Posted: Mon - October 26, 2009 at 12:20 PM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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