"Greened" Into Economic Oblivion

In this Wall Street Journal article, our good friend and venture capital partner George Gilder has eloquently framed the salient issues surrounding "green" investing. George highlights the unintended consequences that are already being felt due to the almost cult-like obsession that many in the political, business and now venture capital community have adopted with respect to investment in ventures tied to the environmental agenda. It is the latter group that concerns George the most and we share that concern.

At a time when growth is slow and job creation is at a standstill, the malinvestment taking place in this quest for "feel good" business ventures is, frankly, frightening. Pursuit of investment in businesses that generally wouldn't exist without the "helping hand" of government subsidy starve real innovators and entrepreneurs -- the would-be creators of new products in biotech, nanotechnology and many other scientific fields -- of the capital they require to bring their creations and innovations to market, thereby creating jobs that are truly "sustainable".

We believe George Gilder's article deserves the widest possible distribution. Please read it and pass it on to your friends and family.

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