Jun 23, 2017

Axios PM

Silicon Valley VC: "I am so, so sorry"

"Silicon Valley's sexist swamp," an important story today by Axios Business Editor Dan Primack, led with this question he got late last year from a former colleague: "What do you know about a VC named Justin Caldbeck?"

  • That colleague told Primack "she had heard stories about sexual harassment toward female founders, and that it seemed to be an open secret among a subset of Silicon Valley's small (but tight) network of women VCs and founders."
  • The Information's Reed Albergotti broke the story yesterday, quoting three women on the record alleging inappropriate advances from Caldbeck.
  • In a statement provided to Axios, Caldbeck announced an indefinite leave of absence from Binary Capital, the firm he co-founded: "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."

Primack's bottom line: "This story ... needs to be told and amplified. Only sunlight can burn away this sort of behavior, and protect others from it in the future."

Go deeper: See Caldbeck's full statement and apology.

What you missed
  1. Another GOP "no" on this health bill: Sen. Dean Heller said today that he can't support the current bill. His reasoning.
  2. Trump's Medicaid issue: In today's off-camera briefing, Sean Spicer claimed Trump will make sure no one on Medicaid loses their coverage. Highlights.
  3. The Obama-Russia timeline: WaPo published a comprehensive timeline on the Obama administration's responses to Russian interference in our election. Our recap.
  4. About those Carrier jobs: Axios PM wrote yesterday about the Carrier jobs that are being sent to Mexico, which Sean Spicer noted today have been in the works for some time. We regret any confusion. Update.
  5. Brexit oh-so-slightly softens: British P.M. Theresa May has made a key concession, allowing E.U. residents to stay in the U.K. Details.
1 futuristic thing

Scientists have invented a skin patch that generates power from sweat, which has major potential applications down the road for wearable tech. Weird, but true.