Startup Company Iterable Fires CEO for Using LSD Before Meeting Justin Zhu claimed that he experimented with the drug to improve his focus.

By Fatma Khaled

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Iterable Inc., a marketing startup, has fired its CEO Justin Zhu for microdosing on LSD before he attended a meeting held in 2019.

Zhu had taken a certain amount of the drug as an experiment to help him focus better, he told Bloomberg on Tuesday.

Launched in 2013, Iterable is a company that connects consumers with brands such as DoorDash and Zillow. It provides services that help marketers build relationships with customers, according to its website.

Related: A Crash Course on Opportunities in Psychedelic Medicine

In a letter to employees, the company didn't specify the reasons for Zhu's dismissal and only mentioned that he had violated Iterable's employee handbook, policies and values. In the note (which was obtained by Bloomberg), Iterable co-founder Andrew Boni, who replaced Zhu as the company's CEO, said that Zhu's behavior "undermined the board's confidence in Justin's ability to lead the company going forward."

Still, Boni expressed his appreciation for Zhu, saying that the latter was a "world-class innovator and creative thinker" and that his "vision, creativity and passion will remain a core part of our culture."

Psychedelic drugs have long been controversial, even though some have argued that they improve mental health. Several leaders in Silicon Valley companies have admitted to taking them, according to Bloomberg.

The late co-founder of Apple, Steve Jobs, for instance, previously told his biographer that "taking LSD was a profound experience, one of the most important things in my life."

At least one psychedelic drug, MDMA, is currently in its third phase of testing by the FDA for PTSD treatment.

Iterable is currently valued at around $2 billion, Bloomberg reported, citing data from research firm PitchBook. The startup didn't immediately respond to Entrepreneur.com's request for comment on Zhu's termination.

Fatma Khaled

Freelance Writer

Fatma Khaled covers different news beats ranging from tech, finance, retail and international business to human interest and social justice stories. She previously reported for Business Insider, TheStreet and New York Daily News.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Make $177,566 With No Experience in 3 Months: A Popular Online 'Side Hustle' Course Is Under Investigation After Customers Complain About Its Deceptive Claims

"All you need is a phone, a laptop, wi-fi and one to three hours a day," one affiliate marketer said in a video posted to social media.

Business News

This Retailer Is the Latest to Remove a Major Feature From Its Stores Due to Rising Theft

Five Below CEO Joel Anderson addressed the company's plans to combat theft in an earnings call earlier this week.

Business News

'A Lobstrosity': Social Media Is Losing It Over Martha Stewart's Latest Meal Posting

The 82-year-old caused quite a stir on Instagram this week.