IT: Seattleit
【 today’s author 】Dexter
President of the Great Slow Reading Council
If you’ve seen 2014’s r-rated blockbuster The Wolf of Wall Street, you’ll remember Leo’s hard work and his characters’ bizarre antics — executives talking about women in meetings, employees having sex in elevators. If you haven’t seen it yet, check it out. I won’t reveal the plot. (Note: It’s best to watch alone)
You might think that the Wolf of Wall Street’s plots are the result of artistic hyperbole, or that they only happen on Wall Street. Would you believe me if I told you that something like the Wolf of Wall Street could happen in the relatively pure world of Silicon Valley?
Recently,
A Silicon Valley startup is making tech headlines for a sex scandal, and the employee who exposed the scandal has said bluntly that the company is a whore…
Warning: The following contents may cause some readers discomfort.
The company that’s here today is called SoFi, a student loan startup. SoFi was an early player in Internet finance, even in Silicon Valley. SoFi is thriving in America, where student loans are banned at home.
SoFi, whose name comes from short for Social Finance, is based in San Francisco. SoFi was founded in 2011 by four Stanford Business School students — Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady — several of whom were at the center of the sex scandal.
SoFi made its first fortune quickly, relying on Stanford’s strong alumni network. SoFi’s first business, a $2 million loan to 100 Stanford students, was funded by 40 Stanford alumni. And SoFi’s interest rates, which are lower than the government’s benchmark rate, have quickly become the first choice for college students to borrow.
SoFi raised $77 million in Series B funding in 2012 ($49 million of which came from Renren, which has become a popular streaming platform) at a valuation of more than $4 billion. SoFi has expanded beyond Stanford to hundreds of colleges and universities across the COUNTRY.
However, with the rapid development of the company, some discordant voices gradually came out, but did not attract the attention of investors and the media. It wasn’t until this year that the ugly side of SoFi came to light after a woman who had worked at the company for many years left.
The scandals quickly made headlines in several tech media outlets
And every one of them is shocking:
del
– SoFi CEO Mike Cagney has a dysfunctional relationship with multiple female employees and is often seen holding hands with women decades younger.
– Before revealing that a female employee at SoFi was leaving, Mike often texted her, either asking her to “meet up” with him after work (you know) or outright sexual harassment.
– Mike once bragged about his womanizing achievements in front of dozens of colleagues and even talked openly about the size of one of his body organs…
– Nino Fanlo, SoFi’s CFO, often comments publicly on female employees’ bodies and occasionally gropes them.
– Nino once publicly offered a $5,000 reward to a female employee for losing weight.
– A female employee has walked in on a colleague in the office engaging in indescribable behavior and received no response after reporting the incident to HR.
– Some employees claimed to see people shaking their cars in the office parking lot several times…
This is happening at a silicon Valley star startup that even I, an old driver, find hard to believe. No wonder some people commented that Uber’s stuff is nothing compared to SoFi. After all, sexual harassment at Uber was mostly perpetrated by mid-level executives, while SoFi’s scandal came straight from the top.
SoFi CEO Mike Cagney is at the center of the scandal
As these scandals mushroomed, SoFi’s board of directors could no longer sit. On Thursday, SoFi’s board decided to fire CEO Mike Cagney, who was at the center of the scandal. Nino Fanlo, the man at the center of another scandal, resigned under pressure in May.
Everything in this world, I’m afraid, has a dark side. Even Silicon Valley, with its “innovative, progressive, socially responsible” label, is no exception. The important thing is that when you come across something nasty or even nasty, be brave enough to call it out. Here, small editor for the brave expose SoFi female employees praise!
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