on a big enterprise, the kind of which people work for more than ten years, maternity leave pay is just a fraction of the whole worker working life - say you work at a company ten years, it's just about 10% of productivity lost. less if you factor days instead of months and account for not giving out bonuses nor vacation in that period)
this of course should not justify a 10% pay reduction, however it is what it is, I'm not deciding it, I'm just telling it.
in the VC worlds, a company they invest on should have a return in three years or even less. in that context, a maternity leave is a 50% productivity loss - three years is too short to absorb a leave and too long for not being at risk of being impacted by it
is this sexist? of course it is. is it fair? of course it isn't.
are there any solutions to this? well, since VC is currently male dominated and they tend not to understand the potential of a woman energy, I can't see many.