A good follow-up piece from the co-author of the 3400 word(!) Fortune exclusive on Mr. Gore and Kleiner Perkins:
Al Gore's next act: Planet-saving VC
From Fortune via CNN Money:
The Wall Street Journal editorial page opined Tuesday about the Al Gore-Kleiner Perkins connection. Predictably, they didn’t have much nice to say about Gore, Kleiner or anyone else who believes there’s a climate-change crisis. Marc Gunther and I wrote a long article in the current issue of Fortune on the subject, which the Journal’s eco-skeptics graciously referenced.
A few of the points in the Journal editorial merit hashing over. First, the Journal rightly focuses on Gore’s financial opportunity. It’s worth quoting the paper in full.
The Journal is onto more than it realizes here....MORE
[L]like the energy barons of an earlier age, Mr. Gore has the chance to achieve enormous wealth after being named last week as a new partner at the famously successful venture capital firm Kleiner Perkins. No fewer than three of his new colleagues sit on the Forbes list of wealthiest Americans. If Mr. Gore can develop market-based solutions to environmental challenges, we will cheer the well-deserved riches flowing his way. On the other hand, if he monetizes his Nobel Peace Prize by securing permanent government subsidies for nonmarket science projects, he’ll have earned a different judgment.