Published via L: 2012-07-15 05:09:34
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To: tony
Why is it that software ventures can easily raise many millions on an idea while clean tech start ups go through torture to raise anything? Is it because so many investors have been burned in the field, or because the process of making something that competes with cheaper fossil fuels is so hard?||It certainly seems more appealing to spend a few $M to make company worth $1B a year later when FB snaps you up.
Pre-acquisition, social news vanguard Digg had raised $45 million in funding from Greylock Partners, Marc Andreessen, LinkedIn founder Reid Hoffman and other Valley notables. Digg was an extremely influential site for anyone who worked in the early era of online publishing, so it being scrapped for parts is sort of weird, especially for those of us who used to beg friends to vote up Digg stories.
