Silicon Valley investor slams "whiners" in angry email

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  • Jonathan Teo, the co-founder of Silicon Valley investment firm Binary Capital, has slammed critics and the media as “whiners” in an extended email to investors and company staff.

    The outburst, described as a “barely coherent Jerry Maguire moment” by industry commentators, came weeks following a barrage of negative press coverage about the firm following allegations of sexual harassment made against fellow Binary Capital co-founder Justin Caldbeck.

    Mr. Teo has offered his resignation following the blunder, only a short time after Silicon Valley was shook by the scandal concerning Caldbeck, who tweeted “I’m incredibly sorry” in response to the allegations made last month. Caldbeck resigned in June, in what was only one example of such an allegation in the tech sector in recent months.

    Recent scandals to hit Silicon Valley include the resignation of self-styled “creep” and venture capitalist Dave McClure, who experienced a fall from grace after several women came forward with allegations against him of a sexual nature, as well as a damning report on a "toxic" workplace culture in taxi-hailing firm Uber.

    In an email to investors and company staff, Jonathan Teo launched a blistering attack on a portfolio company that has moved to cut ties with the firm. Whilst threatening other “moronic” companies from doing the same, he also laid the blame for his resignation offer at the feet of the media.

     “The news we read and have access to is a problem,” said the Binary Capital founder. “Media has been corrupted. The voice of many has been diluted by the agendas of a few. My offer of resignation was made to quell a news cycle that we are almost positive was exacerbated by a leak from someone in our investor base that had an agenda not in the best interest of the entrepreneurs we work with”.

    Mr Teo also described a suggestion by one of the firm's registered portfolio companies that the next partner should be a woman as "moronic". "We must choose the best person, male or female," he wrote in the email. "Talent is universal if we only choose to recognize it. Anything else is again grandstanding for a personal agenda”.

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