A Silicon Valley gathering billed as a conference about family investments disrupted itself Wednesday when the organizers brought in a surprise guest: A female software engineer who galvanized attention last summer by accusing a well-known venture capital executive of sexual harassment, forcing him to resign shortly afterwards.
Niniane Wang, the Silicon Valley engineer who accused Binary Capital partner Justin Caldbeck of sexual harassment this past June, was the notable guest speaker who was excluded from the conference’s published agenda – but then brought in at the last minute to shake things up.
Rakesh Chand, a West Coast Family Investment conference organizer, said he based his decision to not include her name in the pamphlet on the belief that audience members would not have attended knowingly.
Wang was subsequently joined by a pair of other women entrepreneurs who also addressed sexism in the tech industry.
Wang, an outspoken critic of the tech industry’s treatment of women, focused on sexual harassment in Silicon Valley and how to tackle the problem. She offered three solutions that would help prevent sexual harassment in the workplace:
- “Non-disclosure agreements should not cover illicit activity,” she said. Employees are obligated to sign non-disclosure agreements to prevent the trading of valuable information. In some cases, especially those pertaining to sexual harassment, employees are also forced to sign non-disparagement clauses that restrict anyone who signs from damaging the organization or company’s reputation in any written or verbal way. Wang expressed how venture capitalists should not be protected by NDAs that cover illicit activity or language. “Forcing individuals to sign to these agreements allows predators to continue engaging in questionably immoral behavior,” she said.
- “Carry clawback terms for illicit activity and include them in the limited partnership agreements,” argued Wang. “Clawback terms refer to a financer’s ability to take back money that has already been distributed.” Limited partnership agreements—a contract that binds the interests of both parties involved—should have repercussions for venture capitalists if they engage in illicit activity with founders or other members of the tech community. This discourages them from believing that they can get away with harassment and other inappropriate behavior without negative financial consequences.
- “Invest in partnerships with at least one woman who can write a check,” she said. Wang affirmed that venture capital firms with more diversity and women in executive positions lead to higher returns, and safer environments. Giving women the opportunity to have higher positions of authority in the industry can give the company a more reliable and trustworthy background.
Two other speakers, female venture capital partners – Wayee Chu from Reach Capital, and Kate Mitchell from Scale Venture Partners – spoke on the reality of working in venture capitalism as women in a “machismo-driven” field, and how they succeeded.
“VC is a cottage industry,” said Mitchel, meaning that everyone knows everyone.
Promoting rule-breaking can allow for machismo to run rampantly, but also gives the tech and venture capital industry the ability to perform innovatively.
“You don’t invest in venture by looking in the rear view mirror,” she said conclusively.
Chu, who spoke about maneuvering through a male-dominated industry also echoed similar thoughts.“Choosing venture capital involves making risky choices,” she said.
“VC is changing, and ultimately it seeks to foster an environment that supports diversity and education.”
Additional speakers included Mira Veda, founder and editor-in-chief of Lipstick and Politics, alongside Christina Kramlick—Senior Director of SoFi Wealth. Both women also began their segment by addressing equally less charged subjects: the upbringing of girls, how to combat against sexism in the tech field, and how to encourage more girls to pursue careers in STEM, venture capital, and entrepreneurship.
The conference, positioned in the middle of the tech industry’s sexual harassment crisis, reflected the conflicting accounts people felt about women’s representation and treatment in Silicon Valley. Venture capital funds the most innovative and transformative tech companies of the future, although both industries still seem to be in the rudimentary steps of facilitating positive change for women.
The event ended with a brief fifteen minute Q&A, where many of the audience’s male attendees got their chance to speak. One male audience member’s voice stood out, “Be a woman second, be an expert first.”