The idealistic, mission-driven facade is cracking at many start-ups

The idealistic, mission-driven facade is cracking at many start-ups

Curated via Twitter from NYTimes Tech’s twitter account….

Ward not only stated those goals publicly but had Carta advertise them on billboards in San Francisco, including one that implored other tech companies to close a “gender equity gap” faced by women. “This is a company that makes a conscious decision to market itself as a company that cares about fair practices,” Ms.

A Carta spokeswoman said the start-up was a “consistent, vocal and passionate advocate for gender equity, internally and externally. ” She said that one-third of Carta’s top executives were women and that its female employees had reported higher satisfaction than men in its most recent survey.

SAN FRANCISCO — Onstage at an industry conference last year, Henry Ward, chief executive of the financial technology start-up Carta, described his vision for transforming the way that workers get paid.

When Carta raised new funding last year, Andrea Walne, head of liquidity solutions, attended the investor meetings because she led the business side of CartaX, an exchange for private stocks that the company was planning.

In December, Frank Han, a senior vice president of operations who left Carta in March 2019, filed a lawsuit accusing the company of wrongful termination and retaliation. In his suit, Mr. Han said Mr.

In a suit last month, Emily Kramer, a former Carta marketing executive, said that she had been paid less than her male peers and that Mr.

The group proposed that Carta create a way for women to anonymously report harassment or discrimination without fear of retaliation, four people who attended said. Mr. Ward dismissed the idea.

Emily Kramer has filed a wrongful-termination lawsuit against Carta, where she was mistreated and paid less than her male peers, she said. Credit…

Emily Kramer has filed a wrongful-termination lawsuit against Carta, where she was mistreated and paid less than her male peers, she said. Credit…

The current and former Carta employees said what they had experienced was directly at odds with the start-up’s crusade for fairness for workers and more equality for women. Mr.

Carta did not make up for the lost time or higher valuation for the employees who had been underpaid. “I’m embarrassed that we are part of the problem,” Mr.

Kramer said she had been sidelined after she protested a slide in a Carta presentation last year that included a reference to slavery.

Current and former workers at Carta, a hot Silicon Valley fintech company, said they were belittled, excluded and punished if they spoke up.

LeCrone, who left Carta in 2018, said that while the company had believed the woman’s account, “how they handled the situation proved to us that they did not value her.

Three of them, including a former top operations executive, have sued Carta in the last year, accusing it of wrongful termination.

Kramer’s departure, which was viewed by The Times, Mr. Ward praised her work. “She bent the arc for us,” he wrote. “We will always be grateful. Carta said Ms.

To fix those, Carta added $2 million in annual payroll and issued $8. 3 million of equity to employees.

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