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The $529 Million Family Car

July 26, 2011, 3:17 pm

Ray Lane of Kleiner Perkins has helped score hundreds of millions of dollars of taxpayer money from the Obama administration to help subsidize Kleiner investments.  More corporate welfare for billionaires.

It is a nice touch, therefore, that the first tangible result of these sizable public subsidies will be... a new family car for Ray Lane (the car is from Fisker Automotive, a Kleiner investment and recipient of $529 million in taxpayer subsidies.  It appears to be a cool car, but an iPhone is a cool piece of tech too but you don't see me advocating taxpayer money for Apple.

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Category: Environment, Government

  • First point - How much does that bit of subsidized automotive trivia cost an actual customer at a dealership?

    Second point - Four seating positions now constitutes a "family car"?

    Third point - A whole 125 mph? BFD. A Mini Countryman S All4 will seat 4 and hit 130 mph for about $ 30 K. Probably handles better as well, and doesn't take hours to refuel.

  • Slocum

    "A whole 125 mph? BFD."

    No kidding -- hell, a mini-van will do 120:

    http://www.caranddriver.com/reviews/car/10q3/2011_honda_odyssey-first_drive_review

  • morganovich

    kleiner has become a disgrace.

    they are now the GE of venture capital.

    they no longer try to pick winners, they invest and lobby.

  • Brian

    Sounds like Fisker Automotive is appropriately named.

  • BlogDog

    It's not venture capitalism - it's venture socialism. See: Vinod Khosla and ethanol.

  • Rick C

    Mike C: "Four seating positions now constitutes a “family car”?"

    Sure, it's the ecologically responsible thing to have fewer kids these days, or something.