Monday, November 12, 2007

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Time to collect my Gore bets

Some colleaues at Fletcher -- who shall remain nameless -- were convinced Al Gore was going to run for President in 2008. When informed of this conviction, I quickly put down bets.

This Fortune story by Marc Gunther and Adam Lashinsky makes me think it's time to collect:

The recovering politician, environmental activist, and Nobel laureate is adding another title to his résumé: venture capitalist. After "a conversation that's gone on for a year and a half," according to Gore, he has decided to join his old pal John Doerr as an active, hands-on partner at Kleiner Perkins, Silicon Valley's preeminent venture firm.

The move is more than another Colin Powell moment (the former Secretary of State signed on as a Kleiner "strategic limited partner" two years ago and has hardly been heard from since). Gore is joining the firm as Kleiner makes a risky move beyond information technology and health-care investing into the fast-growing and increasingly competitive arena of "clean technology."

According to Doerr, by 2009 more than a third of Kleiner's latest fund, which was raised in 2006 and totals $600 million, will be invested in technologies that aim to reduce emissions of carbon dioxide. Already Kleiner has invested more than $270 million from various funds in 26 companies that make everything from microbes that scrub old oil wells to electric cars to noncorn ethanol. Twelve of Kleiner's 22 partners now spend some or all of their time on green investments.

posted by Dan on 11.12.07 at 01:34 PM


Gore has really pushed the global warming scam to new heights... looks like it's time for him to get a piece of the pie.

posted by: Justin on 11.12.07 at 01:34 PM [permalink]

I read somewhere that either Iowa's or New Hampshire's filing deadline just passed. I think you can collect your bets, barring a divided nominating convention.

And Justin, speaking of betting, if you think global warming's a scam then I have some bets I'd love to make with you:

posted by: Brian Schmidt on 11.12.07 at 01:34 PM [permalink]

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