This was a very disturbing incident, and I can only hope that it was an isolated incident and not indicative of a larger trend in the startup industry. The demographics are skewed enough as it is when it comes to this industry.
Here's hoping the quick, decisive and very public action by management sends a clear signal.
Company management has an affirmative requirement to stop workplace harassment under California law. Race and sexual preference are both protected categories under California law. I was amazed at the stupidity of the management (assuming the post was factual).