The continuing saga of the Terralliance disaster– Adam Lashinsky chimes in on this. He wrote the piece in Fortune last year where I first read about the energy startup.
What went wrong at Terralliance is a common story line in Silicon Valley – rapid cash burn. Drilling an oil well on land (which is less costly than in the water) can cost as much as $25 million. The company has raised at least $500 million in debt and equity, most of which it has spent