Incredibly baffling that this piece offers 14 paragraphs about failure before you see the sentence "the Energy Department’s loan guarantee program ultimately made $2 billion more in returns than it paid out."https://twitter.com/nytimes/status/1376606632239636484 …
vc's pressed heavily to get funding for their companies via the loan guarantee program, but when the government pulled out in 2010-2011 it triggered a cascade of failures, since they asked to be paid back prematurely and so much was already invested. this killed many cos.
