Silicon Valley VCs don't want Obama's money, think Google is passe | Webware - CNET

Silicon Valley VCs don't want Obama's money, think Google is passe | Webware - CNET: "Moderator Jason Pontin, a self-described liberal who 'finds our president as dreamy as the next man,' broke party rank and echoed a popular sentiment in the room of wealthy (and traditionally mostly Republican) venture capitalists, to say that the Obama administration's plan to invest in new technologies is doomed to fail. While acknowledging that the administration's heart is in the right place, he pointed out that traditionally, direct investment in technology by governments doesn't work out well. He said the United State's subsidies on ethanol, France's decision to skip the Internet in favor of the state-sponsored Minitel, and Japan's direct investment in supercomputers as it tried to spend its way out of a recession were examples of poor investments. 'Government is a particularly poor judge of new technology,' he said."