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Did Philly Mag exaggerate its VC story?

Remember when Philly Mag wrote a cover story about the city’s technology community, spotlighting Guggenheim Venture Partners? According to PE Hub, the story was so riddled with exaggerations and inaccuracies that Philly Mag has taken the story down (read it on Google cache). Editor and PE Hub founder Dan Primack – and some of the […]


Remember when Philly Mag wrote a cover story about the city’s technology community, spotlighting Guggenheim Venture Partners?
According to PE Hub, the story was so riddled with exaggerations and inaccuracies that Philly Mag has taken the story down (read it on Google cache). Editor and PE Hub founder Dan Primack – and some of the story’s comments – take several issues with the story about the venture capital firm that is run with a military attitude:

From the Philly Mag story:

I’ve asked about the Lidocaine patch [co-founder Mike] Burns is wearing on a particular body part. When he’s not making millions, the former naval officer is a reservist in Special Operations Forces, a volunteer troop of special-mission commandos. Burns doesn’t talk about what he does as a reservist, but it presumably involves some Bond-like stuff.

Primack:

Burns is currently a reserve officer in the U.S. Navy, and at one point did indeed serve in the reserve unit at U.S. Special Operations Command. But that last part ended back in April 2009, according to Naval public affairs officer Brenda Malone. As for the Lidocaine patch, it was from a small cut into the muscle, which Burns did not receive while on military assignment.

Primack also points out that it was the last story written by former editor Larry Platt before departing, Platt left suddenly and allegedly due to inappropriate behavior.
Platt’s lawyer told PE Hub that the story was “written tongue-in-cheek” and the magazine contends that it was pulled down to protect a source’s family.
According to Primack he was alerted about the story by local Philly VCs and techies. Sheesh guys, you couldn’t have hit up our anonymous tip line?
h/t Philly Tech News
Disclosure: Technically Philly writes a weekly item for Philly Post, Philadelphia Magazine’s blog. Technically Philly is also friendly with interm editor Tom McGrath, who is quoted in the PE Hub story.

Companies: Guggenheim Venture Partners / Philadelphia Magazine

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