People like to dis the Cleantech 1st wave. But, @Enphase is a $5B co. @SolarEdgePV is a $5B co, @Sunrun is a $2B co, @Tesla is a $100B+ co. All VC-funded during the first wave. All transformed industries. VC works in Cleantech. And, nothing wrong with the term Cleantech
Tesla was before the "first wave," total outlier in this case, and if it were up the VCs it would have died in 2008-2009. Only way to save it was for Elon to bet the house (+more, overleveraged). VC emphatically did not work in these scenarios, dangerous to misattribute this...