Jeff Bezos just made a $20 million investment in a company called General Fusion. General Fusion is a Canadian company attempting to develop nuclear fusion and help solve the energy crisis. Sounds like a good idea and definitely fits into the venture capital high risk spectrum. General Fusion based in Burnaby British Columbia is just north of Washington State. So it’s just like down the street, if you know what I mean.
I have no problems with capitalism. I certainly would like the energy crisis to be solved. A lot of environmental problems would also diminish or go away at the same time. But when Jeff Bezos starts making big bets which are also big strategy you have to wonder if he is still full-time with Amazon.
Did the board of directors sign off on his venture capital activities and declare no conflict of interest. Amazon consumes lots of energy. Amazon is becoming a big player in cloud computing which is a long way from selling books and stuff. So why is an investment in nuclear fusion not for amazon shareholders?
Disclosure: “George Gutowski” writes from a “Caveat Emptor Perspective”. I hold no positions in stocks mentioned in this post. I have no plans to initiate new positions within the next 72 hours.
- Nuclear fusion startup gets Jeff Bezos backing, won’t be dropping any bombs (engadget.com)
- Bezos Invests in General Fusion (xconomy.com)
- Amazon’s Jeff Bezos Backs Nuclear Startup General Fusion (gigaom.com)
- Amazon’s Jeff Bezos pumps millions into Canadian fusion project (business.financialpost.com)
- General Fusion raises more money and Jeff Bezos of Amazon.com is one of the investors (nextbigfuture.com)
- Amazon’s Bezos, VCs back nuclear fusion start-up (news.cnet.com)
- Fusion lightweight gets a boost from heavyweight investors (theglobeandmail.com)
- Bill Gates, Jeff Bezos back nuclear power (seattlepi.com)
- General Fusion Adds $19.5M (xconomy.com)