Full speed ahead, and with zero emissions!

Tesla Roadster
Two announcements. Last month I announced the creation of The Westly Group, a clean tech venture firm committed to supporting the next generation of environmental entrepreneurs. This month I'm happy to report I've joined the boards of two exciting clean technology companies, Tesla Motors and Altra Biofuels. As you may know, Tesla makes an electric car that goes from 0-60mph in four seconds and has a 200-mile range. This is the kind of next generation technology that, much like the personal computer, could change the course of history. You can read more about my recent announcements from last week's San Francisco Chronicle.

Steve speaks at CO2 Cap & Trade Forum
The birth of a new marketplace. While clean tech will continue to drive change, there's another marketplace that could prove just as important in the fight against global warming: the carbon market. In Europe the Kyoto Protocol has created a $30 billion market where businesses buy and sell carbon credits. Earlier this month I delivered a keynote address at the Global CO2 Cap and Trade Forum about how California will create a similar market. Everyday I am stunned by the dynamic clean tech companies I see; I am more convinced than ever that if government creates the right incentives, business will beat the aggressive timetable set by the California
legislature for carbon reductions.

A new direction for the Democratic Party. As we move forward in the fight against global warming, market-based solutions like cap and trade and incentives for clean technology will be among our strongest tools. That's why it's important for Democrats to lead on this issue. Last month, I spoke to a group of committed activists about the future of the Party at the Peninsula Democratic Coalition annual meeting. As we move into what will be a competitive primary season, it's critical that we don't spend all our time bashing Republicans, but present our own positive vision for solving the nation's problems.

Barack Obama in crowd
12,000 welcome Barack Obama to Oakland. This past Saturday I was proud to host Senator Obama in Oakland for a rally that's making international news. There he spoke about the importance of thinking big and rising above the pettiness of our politics. Obama said, "If we change the politics, we can change the nation." I've seen big ideas become reality and Barack Obama inspires me. Obama represents what's great about America: he's self-made, he's multicultural, he's exciting, and he knows how to bring people together. With California's primary officially moving up to February 5th, this will be an exciting place to be during the 2008 Presidential Elections.

Nobel Prize Winner Muhammad Yunus
70 million more reasons to hope. I believe that around the world we're seeing the early signs of a new age of good will and prosperity. We're seeing it in clean tech and carbon markets, we're seeing it in Barack Obama and the Democratic Party, and we're seeing it in visionaries like Nobel Prize winner Muhammad Yunus. Thirty years ago Yunus dared to think big and started giving loans to the poorest people on the planet. Today his Grameen Bank has lent out more than $5.3 billion to nearly 70 million borrowers, and more than half have escaped poverty. With a 98% recovery rate, today microfinance is a
legitimate business model for investors.

That's why earlier this month I wrote a letter to the boards of our public
pension funds encouraging them to consider investing .05% of their funds
in microfinace. Such a move would make California a world leader in the
fight against poverty and would help create greater economic and political
stability around the globe. Of course, it wouldn't be the first time
California changed the world, and it wouldn't be the last.

Thank you for being such great friends. We can all be proud that
California is helping to change the world.

Sincerely,

Steve