"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.