Calpers is losing a lot of money on its clean-tech investments. So are taxpayers.
This isn’t just a story about failed VC investments. This is about companies failing after having received VC funding AND (in many cases) government loans AND government advertising (in the form of politicians like BO making grandiose speeches from the doorstep of these companies). Doesn’t really matter how much support we throw at clean-tech, essentially the entire sector is a miserable market failure.