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July 16, 2008

Kleiner Perkins Takes A Rain Check On Crpster.com

From another one of Paul's guest bloggers for the next two weeks...

There was a fair amount of of blog-borne back-and forth today over Adam Lashinksy's piece in Fortune on Kleiner Perkins, and its pursuit of clean tech and other energy investments. Ashkan Karbasfrooshan offer a sharp take on the horrror that the legendary firm might miss out on the next Twitter or Yelp.

Excuse me, but Kleiner can invest in all of the clean tech crap and bio nonsense they want... that at least seems to have some kind of meaning and impact down the road.  Besides, let's consider the horrible track record of VCs that invested in the skata that permeates most dot com VC's portfolio. Give me a f'n break.  We're now bashing a bunch of investors for taking a rain check of crpstr.com to invest in things that actually mean something and make a difference?

Granted that there are no sure things in this business, it's pretty incredible to be casting aspersions on the firm's three-year old strategy with oil now at $140.

-- Joseph Weisenthal, reporter and properietor The Stalwart

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