1219 Views

Making Changes at 500

by

June 30, 2017

“Be the change you wish to see in the world.”

This is the advice I give to people whenever they ask for it. It’s aspirational, which means it is a lot easier said than done. As I write this post, I’m reminded even more of it.

In recent months, we found out that my co-founder Dave McClure had inappropriate interactions with women in the tech community. His behavior was unacceptable and not reflective of 500’s culture and values. I sincerely apologize for the choices he made and the pain and stress they’ve caused people. But apologies aren’t enough without meaningful actions and change.

Because of this, we made the decision a few months ago to change the leadership structure at 500. I took on the role of CEO, which involves directing the Management Team and overall day-to-day operations of 500.

Dave’s role has been limited to fulfilling his obligations to our investors as a General Partner. In addition, he’s been attending counseling to work on changing his perspectives and preventing his previous unacceptable behavior.

The actions we took weren’t easy, but it was critical to us that we uphold our culture and values – even if it meant asking my co-founder to step aside in order for 500 to grow stronger.

That said, I’ll echo what many are already saying. As much as we want to be part of the solution, we clearly have also been part of the problem. Undoubtedly there are ways I could have done more or acted sooner.

The change I want to see is a startup environment where everyone, regardless of gender and background feels welcome and safe. Where sexual harassment or discrimination will not impede great talent from producing great impact.

How do we make this change happen? How can we be that change we want to see?

It starts with me, and the work 500 started on and will continue to do. I am far from perfect, and 500 is far from perfect. But 500 is much more than one person, and we will continue building on our momentum of change. We have a lot of work to do.

Most Popular

June 09, 2020

Our Framework Post-COVID-19

May 22, 2020

Launch Your Business in Georgia (The Country, not the State)

Recent

Used-car platform recorded a V-shaped recovery during the COVID-19 pandemic. How did they do it?

“We attribute our strong recovery to three key reasons.” Eric Cheng, the co-founder and CEO of second-hand car platform Carsome, answered me promptly over our Zoom call.  I had poked to ...

It’s Never Too Soon for Entrepreneurs to Make the World a Better Place (And Mean it)

The Black Lives Matter movement has reminded us of our collective failure to forcefully address systemic discrimination. The venture capital community is no exception. Women and minorities are woef...

COVID-19 Related Tax Credits

Guest Post: the following post is a sponsored guest post by IncentAdvise. All views and opinions represented in this post are the views and opinions of IncentAdvise and do not represent those ...

Full Speed Ahead with 500 Startups LatAm’s Batch 12

At the beginning of 2020, 500 Startups' LatAm team had everything planned for the entire year: our goals, deadlines, and investments we wished to make in our region. We had mapped out everything to...