Dave McClure out at 500 Startups CEO After ‘Inappropriate’ Behavior with Women
Well-known Silicon Valley investor, Dave McClure, has been demoted within the firm he co-founded, 500 Startups, in the latest fallout from revelations of mistreatment of women in the technology industry.
An internal investigation found McClure "had inappropriate interactions with women in the tech community," according to a blog post published Friday by 500 Startups co-founder Christine Tsai who said the decision to demote him was made a few months ago.
"His behavior was unacceptable and not reflective of 500's culture and values," she said. "I sincerely apologize for the choices he made and the pain and stress they've caused people."
McClure will assume a limited role at the firm and is attending counseling, Tsai said. McClure on Friday said in a text message to Reuters that he a...