Allegations in a lawsuit are not facts, but they still can dent a company’s reputation. So Kleiner Perkins likely has suffered from the media attention around the sex-discrimination suit filed by Ellen Pao, a partner at the firm. But its bad press is not a fatal blow.
A Sunday New York Times article presented the allegations and background in detail. It made for a lively read, but it’s mainly Pao’s account, and the Times seemed to assign importance to to the story because Silicon Valley’s venture firms have not been sullied by high profile sex-discrimination lawsuits, unlike their Wall Street cousins.
Some were quick to pounce on evidence that Kleiner Perkins was hurt by the report. The news and deal website peHUB posted results from a poll of about 400 readers that showed 69% of respondents had a “slightly” or “strongly” negative view on the firm as a result of the reports.
I’m not as convinced that Kleiner Perkins has suffered lasting damage. It’s significant that a third of those polled in the peHUB survey hadn’t changed their view of the firm.
Kleiner Perkins has a fight on its hands, but it also has some assets. It has a strong reputation, both in terms of business performance and corporate culture. It also has some good facts to point to in its record of hiring and promoting female employees. A quarter of the firm’s partners are women.
That’s a good foundation, but it will need to do more in the months ahead, both inside the courtroom and beyond.