Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Elizabeth Yin has resigned as a partner with 500 Startups, where she also led the venture firm's Mountain View accelerator program, Axios has learned. Her departure follows the resignation of 500 Startups founder Dave McClure, who has been accused of sexual harassment.

  • Yin joined 500 Startups in late 2014, according to LinkedIn, and took over the accelerator in early 2015.
  • Each new revelation of sexual harassment within the Silicon Valley startup ecosystem seems to engender another. This is not the end — perhaps not even for McClure, with word that at least one more female founder is preparing to tell a troubling story about his behavior. [Update: Here is that new accusation, which Yin alleges 500 Startups was anticipating and prompted the McClure's resignation.]
  • According to Yin's resignation email, a 500 Startups employee reported "unwanted forced physical contact" by McClure in April of this year and, after an internal investigation, Yin was told in mid-May that he would be stepping away from his management role. However, Yin claims this was never communicated to the broader organization.

Per her resignation email:

This started with the letter we all received on May 25, which cited company growth reasons for changes in management roles and did not even say that Dave was stepping down off the management team. This did not sit well with me, but I was assured that eventually the team would known that he was no longer on the management team or in day-to-day operations.
However, as time progressed, it became clear that he was still involved with 500 Startups on a day-to-day basis. He continued to be vocal and active in all 500 Startups Slack channels, influencing key business decisions. Despite having no official management power, it was obvious that 500 staff weren't completely aware of the gravity of the situation and continued to be deferential and event supportive of him. the business development powerpoint deck that we were showing to potential partners still had Dave's face on it, suggesting that he was still an integral part of 500 Startup's day-to-day operations -- and even was still operating day-to-day.

Denial: According to Yin's email, the organization also initially denied to those within 500 Startups that McClure's resignation was related to his alleged actions toward the employee, instead pinning his resignation to the allegations in a New York Times story published on Friday. An entrepreneur, Sarah Kunst, told the NY Times about unwanted advances from McClure when she was discussing a potential job at 500 Startups:

After my prodding, it took nearly 40 minutes for the management team to reveal that Dave had initiated "unwanted physical contact" on our colleague and that was the incident which brought about supposed changes to the 500 Startups management structure and organization and not Sarah.

Update: 500 Startups' statement to Axios:

In April our management team learned of allegations related to inappropriate behavior by Dave McClure. We took the matter seriously and immediately initiated an internal investigation which resulted in the replacement of Mr. McClure by Christine Tsai as CEO. In May we held a company-wide all hands call and sent an email afterwards that same day notifying the team that Dave had stepped down from day-to-day management of 500. Throughout the CEO transition Mr. McClure remained at 500 to fulfill his legal responsibilities to the funds as a General Partner. Due to the sensitivity of personnel issues and the privacy of all involved, the investigation was kept confidential.

The story has been updated with a link to a newly published account from a female founder as well as 500 Startups' statement on the matter.

Go deeper

Updated 8 hours ago - Technology

From Malcolm X to "Free Britney," new media shapes the justice system

Illustration: Shoshana Gordon/Axios

True crime documentaries, podcasts and social media campaigns are bringing new attention to real-world legal proceedings — and are often affecting the outcome.

Why it matters: New media platforms can instantly put a national spotlight on cases that have long been forgotten or buried under red tape.

Updated 11 hours ago - Health

The next big bottleneck in the global vaccination effort

Illustration: Rae Cook/Axios

The world still needs more coronavirus vaccines, but an additional bottleneck has emerged in many low-income countries: They need help getting shots in arms.

Why it matters: Increasing vaccination rates across the world is both a humanitarian necessity and the best way to prevent dangerous new variants from emerging, but it increasingly requires complex problem-solving.

Updated 11 hours ago - Health

COVID-19 Omicron variant cases identified in Europe, U.K.

People wearing masks walk in London on Nov. 25. Photo: Li Ying/Xinhua via Getty Images

Health officials in the United Kingdom, Italy and Germany announced on Saturday that they've detected the first known cases of the new COVID-19 Omicron variant.

Why it matters: The discoveries come as the world scrambles to respond to concerns over the new variant, discovered in South Africa earlier this week.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!