Sinclair Broadcast Group, the media company that aggressively used its 57 television stations to distribute lies about John Kerry and did everything it could to make sure George W. Bush won re-election in 2004, is on the verge of bankruptcy.

"We made the angels blink and understand the real money had arrived." So said some nasty venture capitalists, quoted by a saner one, rejoicing over swinging their dicks at a startup. One of the reasons everyone else in the startup ecosystem hates VCs is that these guys think they're the "real money." Clearly they've never come up against a hedge fund manager: While the VC industry may invest nearly $30 billion in 2007, the hedge fund industry is currently handling nearly $2 trillion.Compared to the big-time deals that biotech and other high-cost firms are making, the average VC deal is piddling. If these hundred-million-dollar startups put out biotech and clean-tech solutions to the world's biggest problems, wresting attention away from the Internet scene, those high-flying VCs could end up feeling like the hundred-thousand-dollar angel investors they stepped on.