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.

Comments

Re:Easy

[Anonymous Coward]

This comment brought to you by the Taliban. Banning women since 1991.

VCs CREATED that culture, and now complain.

[drinkypoo]

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.

Here's the thing

[Ryanrule]

This is not a tech problem. This is a finance problem. Stop hiring the asshole children of rich assholes.