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Thursday, February 16, 2012

The Romney Private Sector Investment Plan: Ask Mom and Dad for Cash

Posted by on Thu, Feb 16, 2012 at 4:10 PM

Captain Tone-Deaf Soundbite strikes again:

"The president wanted to encourage solar energy and he thought by taking $500 million and giving it as a loan to a company would do that," Romney continued. "It did just the opposite. Not understanding the private enterprise system explains why he doesn't understand that.

"Because my guess is that there are about 100 or more entrepreneurs in America that have ideas for solar energy, and they're trying to go out and get funding for their business, for their startup for their ideas. Going to venture capitalists and angels and their parents to try and get funding."

So you've got an idea for a business and you're from an upper-middle class or higher background. There are all sorts of resources to help you out. But what about poor people with an idea for a business? They don't have the resources—including the personal connections—to get the money. Doesn't Mitt Romney care about poor people? Oh. Right.


Comments (12) RSS

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MacCrocodile 1
Poor people should do whatever they can to be adopted by rich (heterosexual) parents.
Posted by MacCrocodile on February 16, 2012 at 4:24 PM · Report this
Max Solomon 2
The 2nd Bush Admin. initiated the Solyndra loans. Shit happens, Willard. Do you want Obama to put tariffs on Chinese PV Panels to level the playing field? You probably do, because then you can whinge about that, then.
Posted by Max Solomon on February 16, 2012 at 4:48 PM · Report this
Question for Mr. Romney: If you were so good at teh business, why did you get out of teh business and go into politics instead?
Posted by COMTE on February 16, 2012 at 4:58 PM · Report this
ams_ 4
They're going to angels for startup funding? What what what?!?
Posted by ams_ on February 16, 2012 at 5:03 PM · Report this
Solyndra was started by poor people?
Posted by madcap on February 16, 2012 at 6:53 PM · Report this
Supreme Ruler Of The Universe 6

Everyone should get their mom to ask IBM to give them a monopoly.
Posted by Supreme Ruler Of The Universe on February 16, 2012 at 7:16 PM · Report this
Duh! Because all of our parents have hundreds of millions of dollars to loan us for our capital ventures.
Posted by Patricia Kayden on February 17, 2012 at 3:29 AM · Report this
Now, Now, be fair: Willard didn't get much money from his Daddy. He got a ticket to Harvard and got all of Daddy's friends to place their money with his investment fund, which is a totally different thing.
Posted by Warren Terra on February 17, 2012 at 4:25 AM · Report this
Venture capitalists operate funds that look for opportunities to provide $100 million to companies that will go public in 3 years and make them 1000x return. They are doing great if 1 in 10 of those deals pan out.

Angels are high net worth individuals who want to invest their own money, typically less than $1 million. If you fall between angel level funding and VC funding you are SOL.
Posted by Mr. J on February 17, 2012 at 6:29 AM · Report this
Oops! That should be 100x (1000%). Nice work if you can get it.
Posted by Mr. J on February 17, 2012 at 6:32 AM · Report this
10x ugh
Posted by Mr. J on February 17, 2012 at 6:33 AM · Report this
Knat 12
It's best to spread your money between a bunch of so-so companies and one good one, rather than put all your money in the one with the most potential to succeed? What? I understand hedging one's bet, but that seems stupid.
Posted by Knat on February 17, 2012 at 12:06 PM · Report this

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