In response to the recent allegations of misconduct levied against Binary Capital partner Justin Caldbeck, LinkedIn cofounder Reid Hoffman took to—where else?—LinkedIn to ask why the response to the report was so tepid. It is critical that people sat up and paid attention, he wrote, because incidents of sexual harassment are commonplace in the world of venture capital.
Hoffman echoes what was said by the women who made the allegations against Caldbeck: VCs aren’t held accountable for their actions because there is no system in place to do so—and that needs to change.
Hoffman’s suggestion is that the industry “actively work on building a kind of industry-wide HR function.” But that can’t happen without a shift in mind-set. “VCs should understand that they have the same moral position to the entrepreneurs they interact with that a manager has to an employee, or a college professor to a student,” he writes.