“I want to apply rather stringent criteria to the investments,” said Soros in an e-mailed message. “They should be profitable but should also actually make a contribution to solving the problem.”
Welcome news indeed. More and more, the really smart money is investing long-term in cleantech. Because whoever funds a company that, say, makes algae biofuel commercially viable will make zillions for themselves and have the thanks of the planet as well.
This kind of funding is utterly different from that of the greedhead slime who cratered the economy with speculating in “fictitious capital” which is, as Karl Marx put it, money based on money that creates nothing.
Soros and other billionaires like Bill Gates, along with companies like Google, are helping create our clean energy future. The results of what they fund will be remembered long after the last Wall Street investment bankers have gone to prison for their role in the current financial crisis.