this is singularly entertaining. what on earth does colin powell know about anything to do with venture capital? of course they're just offering him a place to park himself and make money, and hoping that powell's connections can help in a) bringing in the investors, b) getting useful legislation passed.
so vcs are becoming more like the lobbyists in washington. kleiner perkins has always been ahead of the curve on sand hill road.
this reminds me of a famous economist pontificating on history, which he knows nothing about. or a famous physicist pontificating on race-based intelligence. when you're famous, you are an expert in everything.