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What follows is a statement that Caldbeck provided to Axios this afternoon. "The past 24 hours have been the darkest of my life. I have made many mistakes over

What follows is a statement that Caldbeck provided to Axios this afternoon. "The past 24 hours have been the darkest of my life. I have made many mistakes over the course of my career, some of which were brought to light this week. To say I'm sorry about my behavior is a categorical understatement. Still, I need to say it: I am so, so sorry. I direct my apology first to those women who I've made feel uncomfortable in any way, at any time - but also to the greater tech ecosystem, a community that I have utterly failed. The power dynamic that exists in venture capital is despicably unfair. The gap of influence between male venture capitalists and female entrepreneurs is frightening and I hate that my behavior played a role in perpetrating a gender-hostile environment. It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I've done. I am deeply ashamed of my lack of self-awareness. I am grateful to Niniane, Susan, Leiti, and the other women who spoke up for providing me with a sobering look into my own character and behavior that I can no longer ignore. The dynamic of this industry makes it hard to speak up, but this is the type of action that leads to progress and change, starting with me. I will be taking an indefinite leave of absence from Binary Capital, the firm I co-founded in 2014. I will be seeking professional counseling as I take steps to reflect on my behavior with and attitude towards women. I will find ways to learn from this difficult experience - and to help drive necessary changes in the broader venture community. The Binary team will also be taking measures to ensure that the firm is a safe place for founders of all backgrounds to find the support and resources they need to change the world, without abuse of power or mistreatment of any person. I owe a heartfelt apology to my family, my investors, my portfolio, and the team at Binary, who have been completely blindsided and in no way deserve the pain I've caused. But most of all I apologize again to those who I've hurt during the course of my career - and for the damage I've done to the industry I care so deeply about." https://www.axios.com/justin-caldbeck-takes-indefinite-leave-of-absence-from-binary-capital-2446988189.html https://www.axios.com/justin-caldbeck-takes-indefinite-leave...

tptacek 9y ago
Compare with his firm's statement: Binary issued a statement that said the notion Mr. Caldbeck had “engaged in improper behavior with female entrepreneurs” was “false.” Binary said that while The Information had “found a few examples which show that Justin has in the past occasionally dated or flirted with women he met in a professional capacity, let’s be clear: there is no evidence that Justin did anything illegal and there is no evidence that any of his investing decisions were affected by his social interest.
- metellus 9y ago
  This statement is much more in line with Caldbeck's initial statement: > Obviously, I am deeply disturbed by these allegations. While significant context is missing from the incidents reported by The Information, I deeply regret ever causing anyone to feel uncomfortable. The fact is that I have been privileged to have worked with female entrepreneurs throughout my career and I sincerely apologize to anyone who I made uncomfortable by my actions. There’s no denying this is an issue in the venture community, and I hate that my behavior has contributed to it. I wouldn't be surprised if Binary released an updated statement in light of this new apology and indefinite leave.
  - tptacek 9y ago
    Caldbeck appears to have contradicted the firm's claim, harming their own credibility.
    - vkou 9y ago
      The firm claims he didn't do anything illegal. He hasn't copped up to the assaults, and since they were not employees, the texts may not necessarily have been illegal. Not entirely contradictory.
      - tptacek 9y ago
        Their statement says that any claims or reports that Caldbeck did anything "inappropriate" with women were "false". That ship sailed with Caldbeck's most recent statement.
        vkou 9y ago
        Oh! Sorry - I missed that part at the beginning.
      - rocqua 9y ago
        > I have made many mistakes over the course of my career, some of which were brought to light this week. > It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I've done. Those read to me like admissions of guilt. I'd expect lawyers to strongly advise against writing such things.
bookmarkacc 9y ago
Im so, so sorry I got caught. It has been a difficult experience for me. I would have liked to see more respect given to the victims rather than telling us how difficult getting caught has been for him.
- rfrey 9y ago
  Honest question: can you tell me what phrases in particular you read this way? I read almost everything exactly the opposite way - and I'm genuinely curious which sentences can be interpreted so differently by different people.
  - staticautomatic 9y ago
    "The past 24 hours have been the darkest of my life." - This is all about me, not the women. I've had a rough time and I want your sympathy. "I have made many mistakes over the course of my career, some of which were brought to light this week." - I'm probably a pathological predator but prefer to view my illness and/or poor character as a set of "mistakes" because that's easier on me than admitting I'm a piece of shit. "To say I'm sorry about my behavior is a categorical understatement." - I would acknowledge who I probably really am but I can't, if I even know. "Still, I need to say it: I am so, so sorry." - So I'll just say "I'm sorry" instead. "I direct my apology first to those women who I've made feel uncomfortable in any way, at any time - but also to the greater tech ecosystem, a community that I have utterly failed." - I did some really repulsive shit, but I don't want to say how repulsive, so let's just call it "making people feel uncomfortable." Also, I'm really bummed that so many people are getting mad at me. "The power dynamic that exists in venture capital is despicably unfair." - This isn't about me at all, guys. It's about The System. If I just start acknowledging and condemning structural violence, maybe I can get the focus of this off of me personally. "The gap of influence between male venture capitalists and female entrepreneurs is frightening and I hate that my behavior played a role in perpetrating a gender-hostile environment." - So let's talk about structural violence instead and how I'm just a cog in The System. "It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I've done." - We all sin, OK? "I am deeply ashamed of my lack of self-awareness." - If I had known everyone would get so fucking upset at me, I wouldn't have done those things. I hate it when people get mad at me. "I am grateful to Niniane, Susan, Leiti, and the other women who spoke up for providing me with a sobering look into my own character and behavior that I can no longer ignore." - I wish those women hadn't done that. I'm totally fucked now. "The dynamic of this industry makes it hard to speak up, but this is the type of action that leads to progress and change, starting with me." - But enough about me, let's talk about The System instead. That's the real problem. In fact, me being a piece of shit and it being brought to light is good for these women. I did them a favor! Don't you see? "I will be taking an indefinite leave of absence from Binary Capital, the firm I co-founded in 2014." - Like I said, I'm totally fucked now and my partners booted me out. "I will be seeking professional counseling as I take steps to reflect on my behavior with and attitude towards women." - My wife is so fucking pissed, you don't even know. We're probably getting divorced now, so thanks for that. "I will find ways to learn from this difficult experience - and to help drive necessary changes in the broader venture community." - I still don't really get what I did wrong, but since everyone is so mad at me, I guess I'd better try to figure out how to not make people mad at me again like that. "The Binary team will also be taking measures to ensure that the firm is a safe place for founders of all backgrounds to find the support and resources they need to change the world, without abuse of power or mistreatment of any person." - My partners are super pissed that I fucked their brand, and accordingly, their deal flow. Please don't take it out on them. They're not cool with what I did even though they probably knew about it. "I owe a heartfelt apology to my family, my investors, my portfolio, and the team at Binary, who have been completely blindsided and in no way deserve the pain I've caused." - I'm sorry I fucked everybody's shit up.
lancewiggs 9y ago
Good statement. I appreciate that it is sincere rather than the refined legalese that first came out and that the firm published. PR professionals - take note. Caldbeck might benefit by spending time volunteering for an appropriate organization as a way to help accelerate his awareness - and to help. It's really sad to see this story emerge, and I hope we can all take lessons from it and nudge the industry in a better direction.

tptacek 9y ago

Compare with his firm's statement: Binary issued a statement that said the notion Mr. Caldbeck had “engaged in improper behavior with female entrepreneurs” was “false.” Binary said that while The Information had “found a few examples which show that Justin has in the past occasionally dated or flirted with women he met in a professional capacity, let’s be clear: there is no evidence that Justin did anything illegal and there is no evidence that any of his investing decisions were affected by his social interest.

metellus 9y ago
This statement is much more in line with Caldbeck's initial statement: > Obviously, I am deeply disturbed by these allegations. While significant context is missing from the incidents reported by The Information, I deeply regret ever causing anyone to feel uncomfortable. The fact is that I have been privileged to have worked with female entrepreneurs throughout my career and I sincerely apologize to anyone who I made uncomfortable by my actions. There’s no denying this is an issue in the venture community, and I hate that my behavior has contributed to it. I wouldn't be surprised if Binary released an updated statement in light of this new apology and indefinite leave.
- tptacek 9y ago
  Caldbeck appears to have contradicted the firm's claim, harming their own credibility.
  - vkou 9y ago
    The firm claims he didn't do anything illegal. He hasn't copped up to the assaults, and since they were not employees, the texts may not necessarily have been illegal. Not entirely contradictory.
    - tptacek 9y ago
      Their statement says that any claims or reports that Caldbeck did anything "inappropriate" with women were "false". That ship sailed with Caldbeck's most recent statement.
      - vkou 9y ago
        Oh! Sorry - I missed that part at the beginning.
    - rocqua 9y ago
      > I have made many mistakes over the course of my career, some of which were brought to light this week. > It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I've done. Those read to me like admissions of guilt. I'd expect lawyers to strongly advise against writing such things.

bookmarkacc 9y ago

Im so, so sorry I got caught. It has been a difficult experience for me. I would have liked to see more respect given to the victims rather than telling us how difficult getting caught has been for him.

rfrey 9y ago
Honest question: can you tell me what phrases in particular you read this way? I read almost everything exactly the opposite way - and I'm genuinely curious which sentences can be interpreted so differently by different people.
- staticautomatic 9y ago
  "The past 24 hours have been the darkest of my life." - This is all about me, not the women. I've had a rough time and I want your sympathy. "I have made many mistakes over the course of my career, some of which were brought to light this week." - I'm probably a pathological predator but prefer to view my illness and/or poor character as a set of "mistakes" because that's easier on me than admitting I'm a piece of shit. "To say I'm sorry about my behavior is a categorical understatement." - I would acknowledge who I probably really am but I can't, if I even know. "Still, I need to say it: I am so, so sorry." - So I'll just say "I'm sorry" instead. "I direct my apology first to those women who I've made feel uncomfortable in any way, at any time - but also to the greater tech ecosystem, a community that I have utterly failed." - I did some really repulsive shit, but I don't want to say how repulsive, so let's just call it "making people feel uncomfortable." Also, I'm really bummed that so many people are getting mad at me. "The power dynamic that exists in venture capital is despicably unfair." - This isn't about me at all, guys. It's about The System. If I just start acknowledging and condemning structural violence, maybe I can get the focus of this off of me personally. "The gap of influence between male venture capitalists and female entrepreneurs is frightening and I hate that my behavior played a role in perpetrating a gender-hostile environment." - So let's talk about structural violence instead and how I'm just a cog in The System. "It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain, it is clear to me now that that is exactly what I've done." - We all sin, OK? "I am deeply ashamed of my lack of self-awareness." - If I had known everyone would get so fucking upset at me, I wouldn't have done those things. I hate it when people get mad at me. "I am grateful to Niniane, Susan, Leiti, and the other women who spoke up for providing me with a sobering look into my own character and behavior that I can no longer ignore." - I wish those women hadn't done that. I'm totally fucked now. "The dynamic of this industry makes it hard to speak up, but this is the type of action that leads to progress and change, starting with me." - But enough about me, let's talk about The System instead. That's the real problem. In fact, me being a piece of shit and it being brought to light is good for these women. I did them a favor! Don't you see? "I will be taking an indefinite leave of absence from Binary Capital, the firm I co-founded in 2014." - Like I said, I'm totally fucked now and my partners booted me out. "I will be seeking professional counseling as I take steps to reflect on my behavior with and attitude towards women." - My wife is so fucking pissed, you don't even know. We're probably getting divorced now, so thanks for that. "I will find ways to learn from this difficult experience - and to help drive necessary changes in the broader venture community." - I still don't really get what I did wrong, but since everyone is so mad at me, I guess I'd better try to figure out how to not make people mad at me again like that. "The Binary team will also be taking measures to ensure that the firm is a safe place for founders of all backgrounds to find the support and resources they need to change the world, without abuse of power or mistreatment of any person." - My partners are super pissed that I fucked their brand, and accordingly, their deal flow. Please don't take it out on them. They're not cool with what I did even though they probably knew about it. "I owe a heartfelt apology to my family, my investors, my portfolio, and the team at Binary, who have been completely blindsided and in no way deserve the pain I've caused." - I'm sorry I fucked everybody's shit up.

lancewiggs 9y ago

Good statement. I appreciate that it is sincere rather than the refined legalese that first came out and that the firm published. PR professionals - take note. Caldbeck might benefit by spending time volunteering for an appropriate organization as a way to help accelerate his awareness - and to help. It's really sad to see this story emerge, and I hope we can all take lessons from it and nudge the industry in a better direction.