500 Startups seems to be carrying difficulty removing a story
true — and it’s only cost a startup accelerator another
Elizabeth Yin is resigning from a firm, effective on Friday,
a association reliable to Business Insider. Yin announced her
abdication Monday in a form of an inner email — later
TechCrunch — that indicted a association of a “lack
of clarity and several untruths” regarding its
doing of a depart of co-founder Dave McClure.
article published Friday about passionate harassment
in a tech industry, a New York Times reported that McClure
strike on an businessman who was articulate with him about a possible
pursuit during 500 Startups. In a response to Friday’s
article, Christine Tsai, another co-founder of 500 Startups,
said she had taken over as CEO a few months
earlier and that McClure was not concerned in day-to-day
operations, conjunction of that a association had formerly disclosed
But Yin contradicted that comment in her email. Despite Tsai’s
avowal that McClure had stepped divided from using a organisation —
and a note sent out to a firm’s staff on May 25 announcing
vague government changes — McClure remained highly
concerned during a accelerator, Yin said.
“He continued to be outspoken and active in all 500 Startups
Slack channels, conversion pivotal business decisions,” Yin
“Despite carrying no central government power, it was apparent that
500 staff weren’t totally wakeful of a sobriety of the
conditions and continued to be thoughtful and even understanding of
Yin also accused the association of mishandling an
indictment of passionate attack against McClure by a
“colleague” during a firm.
Yin did not name
the colleague, though pronounced McClure had “initiated ‘unwanted
physical contact'” with her.
Separately on Monday,
Cheryl Yeoh, who had worked with 500 Startups in a past,
accused McClure of assaulting her three years ago,
pulling himself on to her and attempting to lick her when she
attempted to chaperon him out of her apartment. It was not transparent if Yeoh
was a “colleague” to whom Yin was referring.
McClure resigned from
500 Startups on Monday.