Tom Perkins to government: Get out of the VC business

Vaunted venture capitalist Tom Perkins wants government out of his business.
Citing the Department of Energy’s $535 million loan guarantee to bankrupt solar panel manufacturer Solyndra Inc. of Fremont and plans for more of what he called government-led venture capital, Perkins predicted every Solyndra-like government investment would fail.
“It will all fail. Every one will fail,” Perkins said at a reception launching a new book about the early days of biotech giant Genentech Inc., which Kleiner Perkins Caufield and Byers initially financed in 1976 with a $100,000 investment.