Topline
The co-founder and chief executive of the multi-billion dollar marketing startup Iterable says he was ousted from the company after micro-dosing on LSD in the workplace, a controversial but not uncommon trend in the entrepreneurial enclave of Silicon Valley.
Key Facts
Iterable notified employees Monday that the company’s board had dismissed Justin Zhu, an alumnus of Google and Twitter who co-founded the $2 million San Francisco-based startup along with Andrew Boni in 2013.
While the message to employees cited unspecified violations of company policy, Zhu told Bloomberg he was ousted for taking LSD, a drug that is still illegal in the U.S., before a meeting in 2019.
The former chief executive said he was experimenting with micro-dosing (taking a low dosage of the drug) to boost his focus.
Zhu has been replaced as chief executive by Boni, who wrote in an email to staff that his co-founder’s behavior “undermined the board’s confidence in Justin’s ability to lead the company going forward.”
A spokesperson for Iterable did not immediately respond to a request for comment.
Big Number
$2.1 billion. That’s how much the marketing company was valued at as of March of this year, according to PitchBook.
Surprising Fact
Iterable has been highlighted by Forbes multiple times since its 2013 debut. The company has attracted big-name customers like DoorDash and Zillow Group, and in 2021 landed on Forbes’s list of the Best Startup Employers at #89.
Key Background
Silicon Valley has a long history with psychedelic drugs like LSD, with some of the country’s entrepreneurs citing them as a source of creativity. Both Bill Gates and Steve Jobs have publicly acknowledged experimenting with LSD, with the late Apple co-founder describing taking the drug as “one of the most important things in my life.”
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April 27, 2021 at 10:24PM
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CEO Of $2 Billion Startup Fired After Experimenting With LSD At Work - Forbes
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