Posted on 11/14/2017 12:33:48 PM PST by nickcarraway
The high-profile entrepreneur helped start Draper Fisher Jurvetson.
Famed venture capitalist Steve Jurvetson is leaving his job at Draper Fisher Jurvetson in the wake of an investigation into sexual harassment.
Jurvetson is the highest-profile venture capitalist to be forced from his job amid an industrywide evaluation of how Silicon Valley treats women. Jurvetson sits on the board of two of tech’s flashiest companies, SpaceX and Tesla, and the news has already stripped him of those posts, at least temporarily.
DFJ announced the move in a letter to limited partners on Monday. The firm released a statement to Recode that read:
As of today and by mutual agreement, Steve Jurvetson will be leaving DFJ. DFJ’s culture has been, and will continue to be, built on the values of respect and integrity in all of our interactions. We are focused on the success of our portfolio companies, as well as the long-term vision for the firm and will continue to operate with the highest professional standards. The firm did not specify the reason for the ouster in the letter, but sources said that the investigation uncovered behaviors by Jurvetson that were unacceptable related to a negative tone toward women entrepreneurs.
In a one-sentence statement to Recode, Jurvetson said: “I am leaving DFJ to focus on personal matters, including taking legal action against those who have defamed me.” Jurvetson has not yet provided evidence of steps he is taking to sue, but did say in a tweet that he was a subject of “false statements.”
The departure comes as Jurvetson was being investigated by his own firm for harassment. An entrepreneur had alleged predatory behavior was “rampant” at DFJ. The woman, Keri Kukral, did not name Jurvetson in her Facebook post.
DFJ responded at the time that it had never received such a complaint from any of its partners or investors. “Earlier this summer we became aware of indirect and secondhand allegations about one partner, Steve Jurvetson,” a DFJ spokeswoman said. “We immediately opened an independent investigation, which is ongoing at this time.”
A firm partner had also previously said that she likely knew how the investigation would conclude, saying that claims of a predatory culture at the firm were not correct.
“I don’t need an investigation to state with certainty that this is patently wrong,” wrote Heidi Roizen in a post on her personal website.
Jurvetson, who joined the board of Tesla in 2006 and the board of SpaceX in 2009, is also stepping away from his duties at the Elon Musk-helmed companies, according to a Tesla spokesperson.
“Steve Jurvetson is on a leave of absence from the SpaceX and Tesla boards pending resolution of these allegations,” the spokesperson said.
I’m beginning to feel like I’m the only guy my age who has never sexually harassed anyone.
DFJ has always seemed less type-A that Kleiner Perkins)
This article makes it sound like his alleged transgression was a negative tone.
“They say he’s worth about $40 billion”
Not for long.
L
“I’m beginning to feel like I’m the only guy my age who has never sexually harassed anyone.”
Slacker.
L
Yeah...I guess.
You kind of wonder how much of all this in Silicon Valley is a whole bunch of college nerds getting back at the hot chicks in college that only dated the athletes . . .
In the movie The Social Network, there’s a scene at the night club when Timberlake’s character talks about how he wanted to steal the lacrosse team captain’s girlfriend and did it by getting rich.
No, its getting to be a modern day witch hunt.
Impossible ! This he-man doesn't need 40 billion and the hiring couch to pull the babes
I agree, it is like playing a game with no rules but that’s subject to change.
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