She has graced the covers of Vanity Fair and The New Yorker in a low-cut black dress, and her picture takes center stage in magazine advertisements for CrossWorlds. But perhaps the controversy is not what she's doing, but rather what she is: beautiful, powerful, and a threat to an established old boys' network.

"I get asked questions that male CEOs would never get asked. I draw the line, because some of it is just so inappropriate. I'm glad I am married with three children, because I have to live with the rumors resulting," states Garnett.

Garnett is certain that the true force behind her attacks is old-fashioned sexism. "There's a lot of hypocrisy in the Valley, where people are sort of like this [sexist] behind the scenes, but they're not blatant about it usually."

And sexism isn't reserved for men. Many women are criticizing Garnett as well, a reminder of the paradox that attractive, powerful women often face. While being good-looking certainly has its advantages, as Garnett illustrates, it can also breed resentment in both genders.

Silicon Valley journalist Tia O'Brien is one of the many critics who attacked Garnett for exploiting her looks. "I hear some women say, 'Why did Katrina Garnett get all that publicity? Actually my company is doing a lot better, and no one's paying attention to me.' Did they put on a little black dress? No."

But Venture Capitalist Ann Winblad disagrees. "It's not a Miss America contest here. It's not that women are trading on looks or communication skills. They need to be poised and confident at all times to survive in this intensely competitive world. It is a requirement."

Marimba CEO Kim Polese believes more women need to become involved in the technology field. "[Many women] feel it's not a world where they belong or are welcome, and that's as wrong as it could be."