Last year, venture capitalists invested $ 4.9 billion into the green technology sector. Add to that the infusions of government stimuli and considerable tax credits enjoyed by firms developing green technologies, and it's no wonder the cries of a "green bubble" are growing louder.
Our prediction, based on new research findings that we're just now disclosing, is that the bubble prophets will be right — huge amounts of money will be poured into bold but vainglorious new R&D programs and lost. As in any other areas of radical innovation, one can expect that about 90% of all green innovation attempts will fail, and with those failures most of the invested dollars will be gone.
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