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Investors Who Back VC Funds Are Worried About Valley Culture (axios.com)
An anonymous reader shares a report: Limited partners in venture capital funds are having conversations about how to prevent themselves from investing in the next Binary Capital, the Silicon Valley firm that has collapsed over allegations that one of its co-founders sexually harassed female entrepreneurs. This includes the largest LP trade group -- the Institutional Limited Partners Association -- which tells Axios that it is planning to address these issues this summer, as part of the development of its new ILPA Principles 3.0 document. Silicon Valley, and venture capital in particular, has swept sexual harassment under the rug for decades. Binary Capital, coming on top of the situation at Uber, has grabbed that rug and begun to shake it vigorously.
Don't hire women.
That may sound sexist. But the reality is; if you can't trust the boys to behave around girls, or the girls not to accuse the boys, just keep them apart. No judgement about who was right, wrong, made false accusations, or thought the business was just a big frat party.
You'll never be able to fix the "sexual harassment problem" in Silicon Valley. Why? Because:
1) Liberal Silicon Valley will keep moving the goalposts on what constitutes sexual harassment. The more you do to fix it, the more the goalposts will move--until virtually everything is considered harassment.
2) Firms will keep hiring more women in hopes that it will virtue signal that they're progressive. These women will repay this effort by filing more and more sexual harassment claims. You'll hire more women to fix the problem, which will make the problem worse, which will cause you to hire more women....
3) No victim is ever going to give up their victimhood status without a fight, no matter how much you do to appease them.
But if you want to waste your time trying to do the impossible, then go for it. On the upside, it will hopefully speed up the inevitable Silicon Valley crash that's long overdue.
SJW: Someone who has run out of real oppression, and has to fake it.
VCs created the toxic culture in the valley, and now they are crying about how it harms the viability of their equally toxic business model? I hope they all line up and die in a fire, one at a time. The inrush of shitheels is due specifically to VCs handing out money to anyone who can get their crayon sharp enough to draw up a business plan.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
This is not a tech problem. This is a finance problem. Stop hiring the asshole children of rich assholes.