Listen: With all of Silicon Valley's startup money, where's the investment in climate tech?
"In our climate tech series how we survive. We're in the heart of the tech industry this week. Silicon Valley which which is also the home of the venture capital funds that back a lot of the innovation here and those are concentrated in a quiet office park on one little street called Sandhill road. So what are they doing to invest in climb attack. It's not an area that we've spent a Lotta time in Scott Cooper as a managing partner at andriessen Horowitz it is is a big name firm it helped kick start skype twitter facebook and AIRBNB and Cooper says the VC community is a little shy about climate tek lots lots of them invested heavily in solar and other renewable energy ten or fifteen years ago and lost a lot of money when a bunch of those companies went under I think a lot of the old models unfortunately fortunately assumed or dependent on government subsidies to make the businesses work and given how fickle those are with political climates. There was a lot of heartache when some of those things went way and then fast forward to today. Even if you want to put money into cleantech the scientific innovations you might need for a cool new climate tech solution might not even exist public-address is with S. K. ventures. It's kind of heartbreaking as an investor because it's an area where we'd all like to be much more active but it's not obvious what a large check do that would generate a return within time horizon of a venture fund which is less than ten years basically. It's a lot easier to fund products that are purely digital like APPs or social networks than it is to get into super tricky real world tech like batteries are storage or heaven forbid infrastructure the physical world atoms are a pain in the ass us having to actually work with the physical world slows everything down dramatically these days sandhill road does have some venture capital funds that are investing in sustainability. We we look for mission oriented entrepreneurs that are going after really big problems in big markets reporter is with G to VP cleantech venture fund. That is a spin off from the legendary. VC firm Kleiner Perkins Kleiner decided not to keep green investment in the core fund after all those failures a decade or so ago and Porter says G. Tube EP has a broad definition of sustainability so we're not just investing in clean renewable energy we're investing in Three D. printing wanting and new ways of approaching manufacturing and logistics and collapsing supply chains and food to bring producers and consumers closer together. GDP invest in everything anything from electric buses to buying and selling used cars so long plays toward a greener world but nothing that's obviously going to save us and and then there are a handful of investors who wanna make much bigger faster moves. I think the opportunity is incredibly massive. This is Seth Bannon founding partner at the small venture capital. Oh firm fifty years based in San Francisco. We want people to realize that the technologies to mitigate adapt to the climate crisis can create trillions of dollars worth of wealth fifty years is is investing about fifty million dollars compared to about three hundred and fifty million dollars at G. TO VP. Now the biggest name of the game is breakthrough energy ventures it was launched by Bill Gates and other investors in two thousand sixteen to invest over a billion dollars specifically in clean energy but Bannon says the entire tech industry it needs to step up its super frustrating to me when I see people that control hundreds of millions of dollars and determine what companies ISG funded companies don't tweeting about the next e Gaming Unicorn that they're chasing when you have millions of people people who are being forced to migrate all because of a crisis that technology can solve so when it comes to funding tack to help us adapt to climate change the venture capital. It'll industry that gave us the semiconductor and personal computers and smartphones and social media is still mostly in the shallow end of the"