(2009-01-15) Haque Venture Failure

Umair Haque says that Venture Capital is as to blame for Credit Crisis 2008 as the Investment Bank-s. Why does President-elect Obama have to invest a likely trillion dollars to renew, well, pretty much the entire industrial base of the economy - to seed new auto, energy healthcare, education, finance, and agricultural industries (to name just a few)? Because today's crop of apathetic, risk-averse venture investors didn't... If we had tomorrow's industries primed and ready to pump new value into the economy's failing arteries, today's growing macropocalypse would have just been recession as usual. But we don't, because today's venture investors didn't seed tomorrow's industries and markets yesterday - and that loss of potential is the single biggest accelerator that's turning financial meltdown into economic breakdown.