Too much VC money? NONESENSE

Link: Good Morning Silicon Valley.

Apparently the LATimes wrote a piece about there being too much VC money chasing too few ideas.  What a load of nonesense.  Yes, the article is right in saying too much money is chasing online video services and wireless MAN, but what about the myriad of other issues not being funded enough?  As the world begins to swelter, as more and more brutal wars get fought over less and less oil, is it not clear how much potential funding could go to new energy production methods and other environmental technologies, both preventative and remediative?  Not to mention all the other good ideas in this world, many of them in "high technology" ala Silicon Valley?  Frankly, IF there is so much spare money, it is a sign that rich investors (institutional, angel and otherwise) have ambition, and we are all a bunch of fools for complaining.