
Female founders accuse VC Justin Caldbeck of making unwanted advances - janober
https://techcrunch.com/2017/06/23/female-founders-accuse-vc-justin-caldbeck-of-making-unwanted-advances
======
ithinkinstereo
The bigger thread has already been downvoted off the front page and this one
is falling quickly. Disgusting.

For all the down voters: Justin just admitted that all the accusations are
true. [https://www.axios.com/justin-caldbeck-takes-indefinite-
leave...](https://www.axios.com/justin-caldbeck-takes-indefinite-leave-of-
absence-from-binary-capital-2446988189.html)

 _The past 24 hours have been the darkest of my life. I have made many
mistakes over the course of my career, some of which were brought to light
this week. To say I 'm sorry about my behavior is a categorical
understatement. Still, I need to say it: I am so, so sorry.

I direct my apology first to those women who I've made feel uncomfortable in
any way, at any time - but also to the greater tech ecosystem, a community
that I have utterly failed.

The power dynamic that exists in venture capital is despicably unfair. The gap
of influence between male venture capitalists and female entrepreneurs is
frightening and I hate that my behavior played a role in perpetrating a
gender-hostile environment. It is outrageous and unethical for any person to
leverage a position of power in exchange for sexual gain, it is clear to me
now that that is exactly what I've done.

I am deeply ashamed of my lack of self-awareness. I am grateful to Niniane,
Susan, Leiti, and the other women who spoke up for providing me with a
sobering look into my own character and behavior that I can no longer ignore.
The dynamic of this industry makes it hard to speak up, but this is the type
of action that leads to progress and change, starting with me.

I will be taking an indefinite leave of absence from Binary Capital, the firm
I co-founded in 2014. I will be seeking professional counseling as I take
steps to reflect on my behavior with and attitude towards women. I will find
ways to learn from this difficult experience - and to help drive necessary
changes in the broader venture community.

The Binary team will also be taking measures to ensure that the firm is a safe
place for founders of all backgrounds to find the support and resources they
need to change the world, without abuse of power or mistreatment of any
person.

I owe a heartfelt apology to my family, my investors, my portfolio, and the
team at Binary, who have been completely blindsided and in no way deserve the
pain I've caused. But most of all I apologize again to those who I've hurt
during the course of my career - and for the damage I've done to the industry
I care so deeply about._

~~~
maxxxxx
That's pretty impressive. Usually they somehow turn around the whole issue
during this kind of "apology" but he pretty much says he behaved badly and
that's it.

Edit: After reading
[https://news.ycombinator.com/item?id=14622737](https://news.ycombinator.com/item?id=14622737)
I think he is just a big asshole who wants to make this go away so he can get
back to business. No real remorse.

~~~
obstinate
It would be more impressive to not harass women founders. This apology moves
him above harassers who don't apologize, but still miles below non-harassers.

Beware of giving someone too much credit for doing something very harmful,
then apologizing for it effusively. It doesn't undo the harm.

~~~
debaserab2
So how long do we have to ostracize him for before we can treat him like a
human being again? Or does he wear the scarlett letter forever now?

Is it not okay to note that he appears to be taking the right first steps?

~~~
vkou
Until he is removed from positions of power over women, and steps are taken
towards making sure that it won't happen again?

Serial drunk drivers lose their license, and get sent to AA. Serial
harassment... I'm not sure what institution exists to deal with that problem.
A shrink? Welfare?

------
rattray
> Among the allegations made to The Information are that Caldbeck sent
> explicit text messages to women; that Caldbeck sent messages in the middle
> of the night suggesting meeting up; that Caldbeck suggested going to a hotel
> bedroom during a meeting; that Caldbeck made a proposition about having an
> open relationship; and that Caldbeck grabbed a woman’s thigh under the table
> of a bar during a meeting.

------
dawhizkid
Curious what Tiffany Zhong has to say...only reason I have heard of this place
is because she was known as the youngest VC in the Valley until she left last
year.

~~~
Anonymous888
The firm had multiple other women leave in rapid succession as well.

~~~
dawhizkid
It's just a little terrifying how young she was and also the fact that the 3
women who both spoke on record happened to be asian.

Note: I'm an asian male.

------
dwaltrip
So I understand that Justin made some serious mistakes in pursuing his
interest in several female entrepreneurs.

Does there exist an acceptable manner for someone in a position like his to
pursue such an interest? I'd imagine it would depend a lot on the context --
for example, it seems clear to me it would be very inappropriate to do so
during any time period where a deal was being negotiated.

And of course, general etiquette would obviously apply, e.g. get to know them
a bit and cautiously begin displaying some interest, making sure they seem
receptive, etc.

I am genuinely curious about people's thoughts. Not hoping to start an
incendiary discussion.

EDIT: I guess it wasn't clear enough that I'm not trying to defend or
rationalize Justin's actions in any way. I wasn't trying to explore why
exactly what he did was wrong -- that seems pretty clear enough. I was hoping
to discuss more ambiguous scenarios.

~~~
RIMR
What you should do:

-Ask a woman out for dinner

-Exchange contact information, and ask to connect outside of work.

-Reach out via social media and express interest.

\------------------

What you should not do:

-Grab a woman's leg under the table.

-Suggest that you move to a hotel room in the middle of a meeting.

-Suggest an open sexual relationship with multiple women from one company.

-Continue with romantic and sexual advances after already being rejected once.

~~~
renaudg
> -Continue with romantic and sexual advances after already being rejected
> once.

I'm not sure that Michelle Obama would now wish that Barack had followed that
particular piece of advice, when as a colleague he persistently asked her out
after she said no several times.

------
anothercomment
I still can't approve of the article because of all the allusions and
unwarranted generalizations it makes ("this is why there are so few female
founders" and the like). A favorite is cases like Ellen Pao who lose in court
but in certain circles her claims continue to be believed.

Obviously, men will always be attracted to women (and sometimes vice versa),
and not all men know how to deal with it in an appropriate way. But as in this
case, if called out, the bad apples also get eliminated. Also YMMV - for some
an unwanted SMS in the middle of the night is a nightmare, others simply shrug
it off.

Even assuming women avoid becoming founders because of sleazy VCs - what do
they do instead? Men are everywhere, making advances.

