Jonathan Teo, the co-founder of the Silicon Valley investment firm Binary Capital outbursts on the staff and investors by stating, “it is not my job to make you all feel good.”
On the allegations of sexual harassment on the technology boss of silicon valley, Jonathan Teo from the firm Binary Capital based in San Francisco responded to the press coverage by saying, “Justin was tired, indignant and raged against ‘whiners’ who demanded his attention.” Following this issue he as already offered his resignation.
Adding to this he also stated that Mr. Justin Caldbeck had already left the Silicon Valley firm last June as he couldn’t pertain to the allegations of sexual harassment on him. In one of the tweets last month the venture capitalist Justin Caldbeck was incredibly sorry on the article published by ‘Axios‘ who bashed him for his indefinite leave from Binary Capital and harassment claims.
Several sexism scandals arise in Silicon Valley and this action of Justin is one of the recent in the technology valley. The work-culture inside Uber is also taken into account following the resignation of another venture capitalist Dave McClure who accepted the “inexcusable behavior” pertaining “multiple women”.
Will the next partner be ‘moronic’?
Mr. Jonathan Teo has offered to step down in order to quell a news cycle as no allegation has been filed against him yet. Regarding the behavior of the investor and his offer her has blamed the leaks on the “corrupted media.”
While addressing the press conference he was angry that, “women had felt hurt” and suggested the solution that next partner of the portfolio company can be a woman as “moronic”. In the email which was confirmed by the news agencies he was of the view that, “We must choose the best person, male or female. Talent is universal if we only choose to recognize it. Anything else is again grandstanding for a personal agenda”.
He also defied all the rumors of investors getting back shares from the firm while asserting it ‘dishonorable’ and thought of it as a first sign of trouble for the entrepreneur to back off in such events. According to the news agency only one firm has pulled off from the Binary Capital so far. Teo continued by saying. “Silicon Valley is full of entitled human beings”.
- Why is Justin Caldbeck on indefinite leave?
- Will the harassment allegation affect the shares of Binary Capital?
- Is Binary Capital on decline?
- Is Jonathan Teo having a bad time?
In his long email he wrote, “As for the people here that whine that they aren’t taken care of, who have not to worry about their lives being taken from them or their basic needs met, who owes them more than the voice they already have access to?”
Is Jonathan Teo having a bad time at Silicon Valley?
Journalists and entrepreneurs of Silicon Valley are considering the email as “unapologetic” and “Jerry Maguire moment” for Mr. Jonathan Teo.
A journalist Mike Malone said, “He’s having a very bad day. He says he’ll resign, then turns around and says it’s not his fault at all, that everyone is conspiring against him including the media.If you were teaching PR 101 this guy has just done everything possible wrong. He has insulted clients, he has insulted investors, he has insulted employees and he has insulted the media.This is a venture capital fund and venture capitalists live and die by the amount of money they can raise for their next fund.”
Featured Image Credits: The Silicon Investment Consultancy