Rio Tinto announced deals with its partners in China , including the creation of a joint venture with Chinalco to seek new sources of copper and coking coal.

ECONOMIST: Business this week

But they have managed to kill the creation of new public companies in the U.S., cripple the venture capital business, and damage entrepreneurship.

WSJ: Washington Is Killing Silicon Valley

The problem is that taxing Carried Interest as capital gains for early stage venture capital (VC) firms is not a loophole but is essential for starting new companies and spurring job creation.

FORBES: Hedge Fund Fair Tax Can Cut Deficit By $18 Billion

The new political venture famously earned a musical endorsement from Alice Sheridan, who sang 'The Impossible Dream' to mark its creation.

BBC: The rise and fall of Tommy Sheridan and the left

That said, a flip side to this is that as an early stage investor involved in creating these new startups, the supply-and-demand dynamic reinforces my belief that this a great time for early stage venture creation.

FORBES: Early Stage Biotech Showing Positive Signs of Scaling Its Wall of Worry