The administration is turning Washington DC into a fountain of cash. VCs are stoked, sort of.   Since the administration’s announcement in March that $2.4B would go to hybrid plug-in car initiatives, green VCs have been trekking to DC with their hats in their hands. No doubt, the turn of events makes many in the traditionally libertarian VC ecosystem uneasy. One possible exception are the partners at KPCB, who have a longer history of governmental cooperation, typified by their decision in 2007 to bring Al Gore on as a partner.Ray Lane, one of the most even-keeled VCs in the Valley, prescribes a dose of sobriety. He notes that many of the large-scale, high-tech developments of the last century, from automobiles to the Internet, had their origins in government-funded projects. His take is that Uncle Sam's involvement is ... [ Read more ]