SAN FRANCISCO — A civil jury on Friday returned a verdict in the high-profile Ellen Pao gender discrimination case, finding that powerful venture capital firm Kleiner Perkins Caufield & Byers did not discriminate against her because of her gender and did not retaliate when she protested her treatment.
The jury of six men and six women deliberated for three days after a five-week trial that captivated the tech world and highlighted many of the gender bias issues facing women in the heavily male industry.
The decision, closely followed around the world, disappointed those who have condemned Silicon Valley, and the tech industry in general, for its lack of workforce diversity.
“Men in VC firms are breathing a sigh of relief and women in tech are feeling defeated,” said Melinda Briana Epler, chief executive of Change Catalyst, a San Francisco organization that supports female entrepreneurs. “A lot of hearts clearly sank after hearing the verdict.”
Some, however, wonder whether too many hopes...Read more
The nation's biggest broadband providers oppose tough net neutrality regulations because they want “unfettered power” over the Internet, the head of the Federal Communications Commission said Friday.
In his most robust defense so far of the new rules, FCC Chairman Tom Wheeler predicted court challenges by the telecommunications industry would fail.
And he said the “avalanche of arguments” against regulations designed to ensure the free flow of online traffic showed that the industry’s major firms had ulterior motives.
“We should conclude that the biggest broadband providers in the land have one objective — to operate free from control by their customers and free from oversight from government,” Wheeler said in a speech at Ohio State University.
“If they succeed, then, for the first time in America’s communications history, private gatekeepers will have unfettered power to control commerce and free expression,” he said.
Wheeler crafted the controversial regulations that the...Read more
With salacious details of workplace trysts and alleged discrimination and the potentially high financial stakes involved, the trial of venture capital firm Kleiner Perkins Caufield & Byers has captured the imagination of Silicon Valley. As the jury continues to deliberate over whether the firm discriminated against former junior partner Ellen Pao because of her gender, technology companies and venture capital firms are keeping a close eye on the trial, and with good reason. Here are five reasons why.
1. SALACIOUS DETAILS
The trial has so far aired the dirty laundry of one of Silicon Valley’s most prominent venture capital firms. Weeks of testimony exposed details of workplace trysts, all-male outings, porn talk and alleged routine harassment. There have been accusations of a male colleague retaliating against Pao in the workplace after she ended a romantic relationship between them. Another female former partner testified that the same male colleague touched her with his leg under a...Read more
Google's new chief financial officer, Ruth Porat, is being paid more than $70 million for defecting from the same job at investment bank Morgan Stanley.
The lucrative pay package disclosed in a Thursday regulatory filing underscored how much Google prized Porat, who is considered to be among the most powerful women on Wall Street.
Porat, Morgan Stanley's CFO since 2010, will start her new job May 26. Shortly after her arrival, Google will award her stock valued at $25 million and then dole out another bundle of stock worth $40 million next year.
Google Inc. also is giving Porat a $5 million signing bonus to supplement her starting salary of $650,000.
Morgan Stanley paid Porat a $1 million salary in 2013 as part of a $10.1 million pay package,Read more