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From Lauri Moore to Vic Singh, venture capitalists continue to play musical chairs

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Venture capitalists continue to play musical chairs

From Keith Rabois to Ethan Kurzweil, a lot of VCs have switched firms or spun out of storied VC institutions to launch their own funds this year. These employment changes are surprising because unlike in many other fields, venture capitalists don’t traditionally move around very much — especially those who reach the partner or general partner level.

VC funds have 10-year life cycles, and partners have good reason to stay that course. In some instances, there may be a “key man” on a firm’s fund, meaning that if they leave, the fund’s LPs have the right to pull their capital out if they choose. Many partners and GPs also have some of their own money invested in their firms’ funds, which gives them further reason to stick around.

So, while big-name investor moves in venture capital aren’t common, they seem to have become so in recent months. So far this year, there have been notable instances of investors returning to old firms, striking out on their own, or taking a pause from investing entirely.

Here’s who we know of so far:

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September

  • James da Costa announced on September 17 that he was joining Andreessen Horowitz as a partner focused on B2B software and financial services. This marks da Costa’s first foray into venture investing; he was previously the co-founder of Fingo, an African neobank.
  • On September 11, Jacob Westphal announced that he was leaving Andreessen Horowitz. Westphal was a partner at a16z for three and a half years. He left to become the portfolio lead at Will Ventures.

August

  • Freestyle VC announced on August 15 that Maria Palma had joined the firm as a general partner based in San Francisco. Palma was most recently a general partner at Kindred Capital, based in London. Palma has backed companies such as Moov, Novo, and Lottie.

July

  • After nearly seven years, Alex Cook is getting ready to leave Tiger Global, sources familiar with the matter tell TechCrunch. While at Tiger Global, Cook led deals including TradingView, Scalapay and TrueLayer, among others. Prior to Tiger Global, Cook worked at Apollo. 
  • Bessemer Venture Partners announced it added Lauri Moore as a partner on July 22. Moore was previously a partner at Foundation Capital for two years and an operator at LinkedIn before that. Moore will be focused on early-stage investments in sectors including data, AI and developer tools. 
  • On July 17, DCVC announced it had brought on Milo Werner as a general partner to lead the firm’s climate investing practice. The firm is currently raising its first dedicated climate fund. Werner was most recently a general partner at Engine Ventures for two and a half years. Werner was a partner at Ajax Strategies prior to that.
  • Anne Lee Skates announced on July 11 that she had left Andreessen Horowitz where she had been a partner on the consumer team since 2019. She added that she’s off to do her “life’s work” and will post more about her future plans soon. At Andreessen, she backed companies including Whatnot, Kindred and Prisms, among others.

June

  • On June 17, Spencer Peterson announced that he’d left Bedrock, where he served as partner for five years, to become a general partner at Coatue. Peterson is an investor in companies including OpenAI and Rippling, among others.
  • Amanda “Robby” Robson announced her departure from Cowboy Ventures in a LinkedIn post in early June. Robson had been at Cowboy Ventures since October 2019 and at Norwest Venture Partners for three years prior to that. Robson plans to launch a fund of her own.

May

  • Serena Ventures founding partner Alison Stillman announced she’d stepped back from the firm on May 14 after a nearly six-year run working with tennis star Serena Williams. Stillman did not announce her next step.
  • Terri Burns announced on May 13 that she was launching a new venture firm called Type Capital. Burns was previously the first Black woman partner at GV and left the firm back in 2022. Her new fund will focus on pre-seed and seed-stage startups.
  • Last week TechCrunch scooped that Fika Ventures co-founder Eva Ho was going to transition out of the firm after Fika finished deploying its current fund. Ho is stepping back for personal reasons. The move was confirmed by the firm in a blog post on May 9.
  • On May 9, Alison Lange Engel announced she was taking on the role of CEO at Ceros, an AI-powered design company. Lange Engel left Greycroft in December, where she had been a partner since 2019, to take the role.
  • After 15 years, Vic Singh announced on X that he was stepping down from Eniac Ventures on May 1. Singh helped launch the firm in 2009 and is planning to launch a new firm of his own.

April

  • On April 30, Ethan Kurzweil announced he was leaving his role as partner at Bessemer Venture Partners after 16 years. Kurzweil will be launching an early-stage-focused investment firm, according to reporting from Axios. Kurzweil will launch the firm with Kristina Shen, who left Andreessen Horowitz after four years on March 29, and Mark Goldberg, who left Index Ventures after eight years last fall.
  • On April 1, Christina Farr announced that she’d be leaving OMERS Ventures, where she has served as a principal investor and the lead of the firm’s health tech practice since December 2020. Farr announced on X that she’d be working on her health tech newsletter, writing a book focused on the power that storytelling can have on businesses, and consulting health tech founders.

March

  • After six years as a partner at Accel, Ethan Choi announced that he’d be leaving the firm to head to Khosla Ventures in March. Choi will be focused on growth-stage investing at his new firm and has backed such companies as Klaviyo, Pismo and 1Password.
  • While many of the recent VC moves have been by folks looking to start something new, or take on a different opportunity, not all of them have been. On March 13, Chamath Palihapitiya’s Social Capital announced that it fired partners Jay Zaveri and Ravi Tanuku. Bloomberg reported that this was due to a matter involving raising money for AI startup Groq.
  • Rabois was not the only person looking to boomerang back to an old haunt in this recent rise of investor reshuffling. On March 5, Miles Grimshaw announced that he’d be returning to Thrive Capital as a general partner after serving the same position at Benchmark Capital for three years. Grimshaw originally started at Thrive Capital in 2013 and has backed such companies as Airtable, Lattice, and Monzo, among others.
  • While transitioning from operator to VC is a common career progression in the startup ecosystem, it isn’t for everybody. On March 4, Sam Blond announced he had come to that conclusion and would be leaving Founders Fund, where he had been a partner for about 18 months. Blond said he would return to operating and has held roles at companies such as Brex, Zenefits and EchoSign.

January

  • After 12 years at Andreessen Horowitz, Connie Chan announced she was leaving the firm on January 23. Chan had served as one of the firm’s general partners the last five years and has backed companies such as Cider, KoBold and Whatnot.
  • Famed venture investor Keith Rabois announced on January 9 that he was leaving Founders Fund to return to Khosla Ventures. Rabois had been a general partner at Founders Fund for nearly five years; he returned to Khosla as a managing director, his prior role.

TechCrunch is monitoring the recent venture moves and will continue to update this article as they happen. If you have any tips or callouts to bring to our attention, contact me here: rebecca.szkutak@techcrunch.com.

This post was originally published on May 1. It has since been updated on May 13, July 12, August 15 and September 23 to include additional moves within venture.

This post has been updated to better reflect Anne Lee Skates’ investments at Andreessen Horowitz.

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Citing security concerns, the US is now looking to ban Chinese and Russian-made vehicles

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Electric vehicles made in China could be banned in the US from 2027 if a proposed new rule is passed. The US Bureau of Industry and Security (BIS) has published a Notice of Proposed Rulemaking that would prohibit the import and sale of vehicles and components made by manufacturers “with a sufficient nexus” to the People’s Republic of China or Russia. 

The proposed rule focuses on specific elements in electric vehicle (EV) hardware and software, and the potentially malicious use of the information and data required by them. The Vehicle Connectivity System (VCS) allows cars to communicate externally through Bluetooth, cellular, satellite or Wi-Fi modules, while the Automated Driving System (ADS) allows a car to operate without a driver. This ban would encompass any parts imported for use in American-made cars, as well as those built into vehicles from China and Russia.

If passed without change, the only vehicles that would be exempt are those related to agricultural or mining purposes. And, while a senior Biden administration official says “[Chinese] and Russian automakers do not currently play a significant role in the US auto market”, they believe it’s a necessary preventative strike given the sophistication of today’s electric cars and their growing centrality.

Volvo EX30

(Image credit: Volvo)

A statement from the White House clarifies that, “These technologies include computer systems that control vehicle movement and collect sensitive driver and passenger data as well as cameras and sensors that enable automated driving systems and record detailed information about American infrastructure.”

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Can AI chatbots be reined in by a legal duty to tell the truth?

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Can AI chatbots be reined in by a legal duty to tell the truth?

AI chatbots are being quickly rolled out for a wide range of functions

Andriy Onufriyenko/Getty Images

Can artificial intelligence be made to tell the truth? Probably not, but the developers of large language model (LLM) chatbots should be legally required to reduce the risk of errors, says a team of ethicists.

“What we’re just trying to do is create an incentive structure to get the companies to put a greater emphasis on truth or accuracy when they are creating the systems,” says Brent Mittelstadt at the University of Oxford.

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LLM chatbots, such as ChatGPT, generate human-like responses to users’ questions, based on statistical analysis of vast amounts of text. But although their answers usually appear convincing, they are also prone to errors – a flaw referred to as “hallucination”.

“We have these really, really impressive generative AI systems, but they get things wrong very frequently, and as far as we can understand the basic functioning of the systems, there’s no fundamental way to fix that,” says Mittelstadt.

This is a “very big problem” for LLM systems, given they are being rolled out to be used in a variety of contexts, such as government decisions, where it is important they produce factually correct, truthful answers, and are honest about the limitations of their knowledge, he says.

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To address the problem, he and his colleagues propose a range of measures. They say large language models should react in a similar way to how people would when asked factual questions.

That means being honest about what you do and don’t know. “It’s about doing the necessary steps to actually be careful in what you are claiming,” says Mittelstadt. “If you are not sure about something, you’re not just going to make something up in order to be convincing. Rather, you would say, ‘Hey, you know what? I don’t know. Let me look into that. I’ll get back to you.”

This seems like a laudable aim, but Eerke Boiten at De Montfort University, UK, questions whether the ethicists’ demand is technically feasible. Companies are trying to get LLMs to stick to the truth, but so far it is proving to be so labour-intensive that it isn’t practical. “I don’t understand how they expect legal requirements to mandate what I see as fundamentally technologically impossible,” he says.

Mittelstadt and his colleagues do suggest some more straightforward steps that could make LLMs more truthful. The models should link to sources, he says – something that many of them now do to evidence their claims, while the wider use of a technique known as retrieval augmented generation to come up with answers could limit the likelihood of hallucinations.

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He also argues that LLMs deployed in high-risk areas, such as government decision-making, should be scaled down, or the sources they can draw on should be restricted. “If we had a language model we wanted to use just in medicine, maybe we limit it so it can only search academic articles published in high quality medical journals,” he says.

Changing perceptions is also important, says Mittelstadt. “If we can get away from the idea that [LLMs] are good at answering factual questions, or at least that they’ll give you a reliable answer to factual questions, and instead see them more as something that can help you with facts you bring to them, that would be good,” he says.

Catalina Goanta at Utrecht University in the Netherlands says the researchers focus too much on technology and not enough on the longer-term issues of falsehood in public discourse. “Vilifying LLMs alone in such a context creates the impression that humans are perfectly diligent and would never make such mistakes,” she says. “Ask any judge you meet, in any jurisdiction, and they will have horror stories about the negligence of lawyers and vice versa – and that is not a machine issue.”

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NYT Crossword: answers for Monday, September 23

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NYT Crossword: answers for Monday, September 23


The New York Times crossword puzzle can be tough! If you’re stuck, we’re here to help with a list of today’s clues and answers.

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Telegram will provide data to authorities upon request

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Following the recent arrest and release of Telegram’s CEO in France, the platform has been introducing some changes. One of the main allegations against the service was the lack of responsiveness to data requests by authorities. From now on, Telegram will provide phone numbers and IP addresses in response to potential legal requests.

The arrest of Telegram’s CEO Pavel Durov stemmed from allegations of his involvement in illegal activities on the service. The French government cited the absence of more efficient moderation systems and a lack of collaboration with the authorities as the primary reasons for the arrest. At the time, Durov said that his arrest was a mistake and an erroneous application of the law.

Telegram will provide phone numbers and IP addresses in legal request cases

Later, Telegram modified its FAQs to reflect the existence of the “Report” option in groups. This change had led many to mistakenly believe that Telegram did not have such an option. It always existed, but now the messaging app wanted to make it clear. Users are able to report individual messages or entire groups. It’s noteworthy that the option to report messages is only available in groups. Individual chats between people are entirely private and encrypted, so the option does not exist.

The new changes to Telegram are more proactive regarding moderation. In addition to providing suspects’ phone numbers and IP addresses to authorities, Telegram will use AI and a human team to remove illegal or problematic content from search results. Telegram’s CEO also asked users to report problematic results as soon as they see them.

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Anyway, the changes do not seem to affect the privacy of chats per se. There are no content moderation bots for private chats or groups. Authorities will also not have access to suspects’ chats. “To this day, we have disclosed 0 bytes of user messages to third parties, including governments,” claims Durov.

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A The Lord of the Rings Game is now due out in March 2025

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A The Lord of the Rings Game is now due out in March 2025

Tales of the Shire, a cozy life sim , has gotten a new release date and a strange new name. It’s scheduled for release on March 25, 2025 and it’s now called Tales of the Shire: A The Lord of the Rings Game, because apparently referencing the Shire wasn’t enough to clue in fans. LOTR diehards are well known for being ignorant about the franchise they love. That was extreme sarcasm.

Anyways, this information was served up during Private Division and Wētā Workshop’s , which revealed a lot of new footage and included plenty of interviews with the game’s designers. Wētā Workshop is actually helping to develop the game, after making effects for all of Peter Jackson’s Middle-earth films.

Tales of the Shire: A The Lord of the Rings Game (that really rolls off the tongue) was supposed to come out in 2024, so the developers could iron out some bugs and present a fully realized version of their original vision. Here’s hoping that translates to a polished gameplay experience in March.

For the uninitiated, this is a cozy sim. There are elements of Animal Crossing, Stardew Valley and other games in the genre. There’s farming, fishing and a deep character interaction system. Of course, there’s also a big emphasis placed on cooking huge feasts. We all know how much hobbits love a good feast.

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The game looks cute enough and, heck, I’m always down for a new cozy sim. However, the developers have confirmed that there will be no romance, despite the emphasis on cultivating relationships and friendships. The developers say that romance simply doesn’t fit the tone of the game. In any event, Tales of the Shire: A The Lord of the Rings Game will be released for PC via Steam, Nintendo Switch, PS5 and Xbox Series X/S. It’s also coming to Netflix.

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5 Days Left to save $600 on Disrupt 2024 tickets

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5 days left to grab rebooted ticket prices for TechCrunch Disrupt 2024

The countdown to TechCrunch Disrupt 2024 is on, and so are rebooted ticket prices! Save up to $600 on individual ticket types before September 27. Take advantage of these huge last-minute discounts while you still can.

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