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71 top VCs landed on Insider’s 2022 list of investors to watch. Here’s what they’re looking for in startups to back in 2023

Jillian Williams, Rex Salisbury, Nancy Torres, and Brian Hollins on a blue background with 8-bit style dollar signsFrom left, Jillian Williams, Rex Salisbury, Nancy Torres, and Brian Hollins.

Jillian Williams; Rex Salisbury; Nancy Torres; Brian Hollins; Marianne Ayala/Insider

  • Despite a tumultuous market for startup investing, VCs still landed top deals at hot startups. 
  • Behind these successes were the smart and savvy rising-star VCs working to transform the industry. 
  • Here are some of the rising stars of venture capital who are names to watch in 2023.

After 2021 broke fundraising records for venture capital, the tech industry and startups faced a much-rockier economic climate in 2022. Persistent inflation, a collapse in venture funding, and fear in the public markets all shook startup land this year, forcing many companies to cut costs and conduct layoffs. 

Despite the economic downturn, many VC firms were able to raise billions in capital for “megafunds,” which have over $1 billion in them. 

And many young enterprising venture capitalists at those firms and many more were able to source lucrative deals at top startups and wow their peers as up-and-coming stars in the industry. 

Insider asked the VCs we named in last year’s rising-stars list and the general public to nominate this year’s most promising venture investors. Insider threw in a few picks of our own based on investors’ performance throughout this year.

The investors selected come from a wide variety of backgrounds, from associates to founding partners at their funds.

For instance, OMERS Ventures’ Chrissy Farr made the jump to healthtech investing after working as a journalist covering the venture industry for CNBC. At the same time, Rex Salisbury left the storied firm Andreessen Horowitz to start his own venture fund, Cambrian Ventures, earlier this year.

Other investors, like General Catalyst’s Johnson Yang and Bessemer Venture Partners’ Alexandra Sukin, gained their first investing experience while still in college. 

And for the first time, there are more women on the list then men, which indicates more women are being brought into the talent pipeline of the traditionally male-dominated venture-capital industry.

Subscribe to Insider to meet the 71 rising-star VCs who wowed their industry peers and are the names to watch in 2023.

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I’ve missed my kids’ birthdays and Christmas as a lifeboat volunteer. I can’t bear thinking about someone going into the water without anyone to help.

Jamie Bourke said he knew the role was for him. He had always been drawn to saving people's lives, and peers often told him he put others first.Jamie Bourke said he knew the role was for him. He had always been drawn to saving people’s lives, and peers often told him he put others first.

Jamie Bourke

  • Jamie Bourke volunteers for the UK’s Royal National Lifeboat Institution.
  • He has missed work, birthdays, and Christmas Day to save lives at sea.
  • Here is how he balances family and a full-time job with being on call.

This as-told-to essay is based on a transcribed conversation with Jamie Bourke, a volunteer with the Royal National Lifeboat Institution, or RNLI, a charity that operates 238 lifeboat stations across the UK. It has been edited for length and clarity.

I became interested in the RNLI when I saw them leave the harbor while I was living in Brighton, England, in 2016. I didn’t know anything about boats until then.

From the moment I inquired about becoming a volunteer, I knew it was for me. The end result of saving someone’s life and not judging them for how they got into trouble, just being there to help, drew me in.

Before even getting into the water, I had to pass a medical test and a fitness test

You are not operational for the first three months of volunteering, as you have to pass a range of 15 modules that includes assessments on topics such as knots, navigation, boat handling, and emergency procedures.

I also had to learn first aid, search and rescue, man-overboard training, and the mechanics of the boat. My training was in the evenings and during the weekends, so it was easier to work around my job with a window-plastics supplier, but I did have to take vacation time to spend three days at the Lifeboat College.

Trying to persuade an employer to give you the time off for training is a tough task. I have seen smaller independent companies being more lenient, but I didn’t mind taking the time as vacation. 

The RNLI can give you all the training in the world, but you also have to switch on and adapt in real-life situations. There are no textbook scenarios; something can always go wrong.

My partner and my mum worry every time I’m on shift

I once had a job where a yacht lost control during a powerful storm. Four of us went out, and we were suddenly battling five-meter waves.

We collided with the same yacht we were trying to get under tow, and one of our crew members got shaken around and ended up with broken ribs. I had chest pains because of all the adrenaline — but luckily I was just battered and bruised.

It was one of those jobs where we didn’t think we were coming back. It was dangerous that day.

When I lived in Brighton, we had a pager system. When a volunteer was on shift, they had to be within a seven-minute radius of the lifeboat station, which could mean suddenly having to leave while out for dinner, for example. I once had to run out of the bath while on call.

Being an RNLI volunteer can create issues at work and requires a sympathetic boss

I was once loading a truck while working for the window-plastics supplier when the pager went off. I was gone for two or three hours. My boss was annoyed that he still had to pay me for the time, so I had to make it up on a Saturday.

Similarly, when on the trade counter, where builders and other tradespeople would order their window supplies and seek building advice, I often got the call while serving customers, so I’d have to leave. They understand in most cases. It helps if you are in a seaside resort as people are used to being around the RNLI.

I moved to London in 2018 to be closer to family and initially got a job as a branch manager for a tools- and equipment-rentals firm. The city is too big for a pager system, so we work shifts at the lifeboat station.

I do 12-hour shifts at the Chiswick station, and you have to do a minimum of two per month. I sometimes felt pretty exhausted at work and would take a bit of time the morning after a shift to sort myself out. This was slightly easier as a manager. Colleagues understood, but it sometimes meant delegating when necessary. 

My RNLI work is all voluntary, but we get an allowance for travel and food. Some of the people I’ve met because of volunteering are now my closest friends. If I have a problem at home, I know I can go to one of them. We put our lives in each other’s hands.

It was hard to find a balance between working in the day and volunteering at night while caring for my young family. I started a new job as a ground-handling agent at Gatwick Airport in August, which provides more flexibility. 

I work nights, which Gatwick schedules a year in advance. This makes it easier to plan RNLI shifts. It really fascinates my airport colleagues, and not many people know there are lifeboats on the River Thames.

My partner is really supportive and can tell when I have had a good or bad shift. I do feel like I am always making compromises. I’ve missed some of my three daughters’ birthdays and couldn’t drink at my sister’s wedding because I was on call.

I’ve never had that full Christmas experience with the kids

I have volunteered with the RNLI during the festive period every year since 2016. We try to buy presents and prepare Christmas dinner early, but it is very regimented, so it can be hard to relax as the kids know daddy is leaving to go to work.

Volunteers mostly make up the RNLI, and they’re always short of crew. There have been thousands of call-outs during the Christmas period. I don’t know if I could have it on my conscience if someone jumped in the sea or river and there was no one there to help them.

On Christmas Day 2019, I volunteered at Waterloo Bridge, one of the busiest stations. It was low tide, and a lady fell off the nearby London Bridge into either low or no water at all. She broke her spine in multiple places.

We had to use a stretcher to get her onto a fireboat, and then back to our lifeboat station to hand her to the ambulance. She survived, but can you imagine what might have happened if there was no RNLI?

This is the first Christmas I won’t be volunteering, as I am doing the night shift at Gatwick. I make sure I don’t miss the kids’ birthdays now. My oldest is 10, so these are becoming the crucial years that I don’t want to miss, plus we have another baby on the way, so my partner wouldn’t be too happy if I did.

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‘Pharma Bro’ Martin Shkreli advises Sam Bankman-Fried on potential prison time, saying he should prepare by listening to rap music and shaving his head

Martin Shkreli (and Sam Bankman-FriedMartin Shkreli (left) and Sam Bankman-Fried (right).

Tom Williams/CQ-Roll Call, Inc/Drew Angerer/Getty Images

  • Disgraced FTX co-founder Sam Bankman-Fried was arrested and faces eight criminal charges.
  • Martin Shkreli, released from prison in May, advised him on preparing for potential prison time.
  • He told the podcast “Unchained” that Bankman-Fried should shave his head and listen to rap music.

“Pharma Bro” Martin Shkreli advised Sam Bankman-Fried on potential prison time, saying that the disgraced FTX founder should prepare by listening to rap music, deepening his voice, and shaving his head.

Bankman-Fried, the 30-year-old former billionaire, was arrested in the Bahamas earlier this month after the collapse of cryptocurrency exchange FTX and has been charged with eight criminal charges. If convicted, he faces up to 115 years in prison.  

Shkreli, who was released from prison this year, told crypto journalist Laura Shin on her podcast “Unchained” that he thinks Bankman-Fried “isn’t exactly gonna be somebody that fits into prison.” 

“You know, my advice for him includes shaving his head, my advice for him includes deepening his voice,” Shkreli said. “Sam is going to have a lot of issues because he is a bit of an effeminate guy, and his demeanor, some people say [an] autistic sort of sense or sensibility is not something that goes over well in prison.”

Shkreli added that these changes in prison “could save your life.” 

“He probably should no longer say that he’s from Stanford or something,” Shkreli said.

“He can say that he’s from Oakland, I think that people would rather hear him lie than hear the truth,” he added. “Even if they know it’s a bit of a lie, he should probably start to reinvent his background and history because the rich white kid from a good neighborhood — that story doesn’t sound great.”

Bankman-Fried’s charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering.  He was extradited to New York on December 21 and released on $250 million bail the following day.

He was ordered to surrender his passport and stay with his parents at their home in Palo Alto, California, until the trial. Another court hearing is scheduled for January 3 in Manhattan, where Bankman-Fried is expected to enter a plea.

Shkreli, a former pharmaceutical CEO, earned the moniker “pharma bro” in 2015 after he was heavily criticized for hiking the price of Aids medication from $13 to $750. 

In 2017, he was found guilty of securities fraud and was sentenced to seven years in prison.

He was released from a Pennsylvania prison in May this year after serving only part of his seven-year sentence and moved to a “community confinement” program, the US Bureau of Prisons confirmed to Insider.

He was released from the program in September. 

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Elon Musk says Twitter will let people turn off view counts after users immediately complained the new feature looks messy

Elon Musk looking at his phone.Elon Musk says Twitter users will be able to switch off new Twitter view counts.

AP

  • Elon Musk says Twitter users will be able to switch off new view counts.
  • View counts appear next to retweets and likes on tweets.
  • They rolled out on December 22 and immediately generated complaints from users.

Elon Musk says Twitter users will be able to switch off new view counts, days after the social-media platform introduced the feature. 

Responding to a user complaining about the new feature’s “messy” look, Musk said on December 24 that Twitter planned to “tidy up the esthetics” and “add a setting to turn it off.”

—Elon Musk (@elonmusk) December 24, 2022

 

Musk originally announced Twitter had started rolling out the new feature on December 22. Similar to a count already in place for video, the new view counts display the number of times a tweet has been seen alongside the number of likes, comments, and retweets.

Some Twitter users have been complaining about the new feature, with one describing it as “useless” and “distracting.” 

The feature originally got support from Jack Dorsey, Twitter’s cofounder and former CEO. In early December, Dorsey called the planned feature a “much better metric.”

Twitter did not immediately reply to a request for comment on the view count feature made outside working hours.

Musk has overseen the introduction of several new Twitter features since he purchased the platform in late October, including Twitter’s new paid subscription model. Rollouts haven’t always gone smoothly.

Twitter Blue hit a roadblock in November when the platform was flooded with users impersonating public figures and brands almost immediately after it launched. The company was forced to pause the subscription service and find another way to mark out official accounts. 

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Michael Novakhov retweeted: やってもうたぁ😭 #FBI twitter.com/fbi_zibell/sta…

Michael Novakhov retweeted:

やってもうたぁ😭

#FBI twitter.com/fbi_zibell/sta…

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Michael Novakhov retweeted: #fbi #censorship #twitter twitter.com/elizableu/stat…

Michael Novakhov retweeted:

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It looks like a nice, quiet graveyard. The #FBI should rest there in peace after the coming Church style Congressional Investigations of its many crimes and treacheries. INVESTIGATE THE INVESTIGATORS IN DEPTH! Put the FBI criminals in prison! thenewsandtimes.blogspot.com/2022/12/it-loo…

It looks like a nice, quiet graveyard. The #FBI should rest there in peace after the coming Church style Congressional Investigations of its many crimes and treacheries. INVESTIGATE THE INVESTIGATORS IN DEPTH! Put the FBI criminals in prison! thenewsandtimes.blogspot.com/2022/12/it-loo…

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I have a friend on death row. He’s the most remarkable person I know | Rebecca Solnit

To live for 41 years in a small cage in concrete is to be profoundly sensorily deprived. Recently my friend Jarvis Masters asked me to describe moss

I have one friend whose calls I always take no matter where I am or what I’m doing. Jarvis Masters calls me collect from death row, when he can get the phone – I’ve never seen quite how this works, but the prison guards haul some kind of apparatus to the small cage in which he’s been confined for the past 30-something years and he dials out. I keep a fund topped up for these calls. The calls, which a voice reminds us may be monitored, are automatically terminated after 15 minutes. If they don’t take the phone away for someone else to use, he can call back.

We laugh and joke a lot and talk about everything under the sun, but not much about daily life on death row in San Quentin state prison. That’s usually not what he wants to talk about, although, during a recent in-person visit, he told a very funny story about Charles Manson from when Manson had the cell next to him. To live for 41 years in a small cage in a concrete structure is to be profoundly sensorily deprived, and that’s made him eager for secondhand evidence of the outside world.

Continue reading…

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Convicted ringleader in Michigan governor kidnapping plot faces sentencing

2022-12-27T11:23:21Z

Michigan Governor Gretchen Whitmer sits in a 2019 Chevrolet Traverse, assembled in Lansing, Michigan, at the General Motors display area during the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Rebecca Cook

The convicted leader of a foiled plot by members of right-wing militia groups to kidnap Michigan Governor Gretchen Whitmer faces a possible life term in prison when he is sentenced on Tuesday in U.S. District Court.

Adam Fox was found guilty in August by a federal court jury in Grand Rapids, Michigan, on one count each of conspiring to abduct Whitmer and conspiring to use a weapon of mass destruction in a scheme prosecutors said was intended to spark a “second American revolution.”

Co-defendant Barry Croft Jr., another member of the Three Percenters militia group, was convicted of the same charges at the same trial and was scheduled for sentencing on Wednesday.

Both men face a maximum sentence of life in prison.

Prosecutors described Fox as the mastermind behind a plot to break into Whitmer’s vacation home, kidnap her at gunpoint, and take her to stand “trial” on bogus treason charges and face execution.

Prosecutors said the plot, precipitated by the group’s opposition to public health measures Whitmer imposed during the early days of the COVID pandemic, was aimed at pushing the country into armed conflict as a contentious presidential race approached in November 2020.

The weapon of mass destruction involved was a bomb that prosecutors said the conspirators planned to detonate to hinder law enforcement’s response to the abduction.

Whitmer, a Democrat and co-chairman of Joe Biden’s White House campaign that year, had clashed publicly with then-President Donald Trump over her COVID policies.

She accused Trump of fomenting political extremism by repeatedly directing heated rhetoric on the issue, including a campaign rally in Michigan where his criticism of Whitmer drew chants of “lock her up” from the crowd.

Fox and Croft were among 13 men arrested in October 2020 on state or federal crimes in the kidnapping conspiracy.

Two others put on trial with them in federal court were found not guilty in April 2022. The same jury failed to reach a verdict for Fox and Croft, resulting in a mistrial for them.

Two other men who pleaded guilty to kidnapping conspiracy charges testified for the prosecution at the first federal trial and during the retrial of Fox and Croft about four months later.

The two cooperating witnesses, Ty Garbin and Kaleb Franks, were sentenced to 2 1/2 years and four years in prison, respectively.

Three other men tried together in state court and convicted in October 2022 of playing supporting roles in the plot as members of the Wolverine Watchmen militia were sentenced last month to minimum sentences of 10, 12 and 7 years in prison, respectively.

Depending on parole factors, two of the men, Joseph Morrison and his father-in-law, Pete Musico, could each serve terms of up to 42 years, while the third, Paul Bellar, faces as much as 22 years behind bars.


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Caught in the crossfire, Peru protest deaths keep anger burning

2022-12-27T11:09:50Z

AYACUCHO, Peru (Reuters) – Edgar Prado, 51, a mechanic and driver from the city of Ayacucho in southern Peru, spent most of the day on Dec. 15 in his garage tinkering on his white Toyota Hilux pickup, even as protests began to build in the airport just a block away.

At 5.56 p.m. that day he would suffer a fatal gunshot wound to the chest and by 6.00 a.m. the next morning he would be dead, according to security camera footage reviewed by Reuters and his autopsy, one of ten people killed in the city in the most bloody violence that has roiled Peru in recent weeks.

The protests, the worst in years even in tumultuous Peru, have seen 22 people killed, the youngest just 15. The deaths threaten to keep anger fired up despite a lull in violence over the festive period in the heavily Catholic country.

The clashes with the Dec. 7 ouster of former president Pedro Castillo after he tried to illegally dissolve Congress to avoid an impeachment vote he feared losing. He was voted out of office shortly after and arrested for alleged “rebellion”. He denies the charges.

His arrest triggered an outpouring of anger at the country’s political elite and Congress, widely reviled as corrupt and self-serving, especially in Peru’s poor southern mining regions where rising food and energy costs have hit people hard.

As new President Dina Boluarte tried to stem the protests, which saw blockades of highways, buildings set on fire and airports invaded, the government declared a nationwide state of emergency on Dec. 14, curtailing some civic rights and allowing the armed forces to support the police maintaining public order.

A day later on Dec. 15 protesters in Ayacucho invaded the runway of the regional airport, a block away from Prado’s garage, where he lived and worked on Calle Los Angeles, which ran parallel to the airstrip. The airport was forced to suspend flights.

The army was sent in to wrest back control.

A security camera near the airport shows protesters invading the runway around 2 p.m., some throwing rocks and burning tires while troops gathered. Military helicopters circled above. The public ombudsman said gas grenades were thrown onto protesters below.

By 5 p.m. the violence spread outside the limits of the airport, and the shooting in the streets began. By the end of the night the clashes would leave 10 people dead or fatally wounded. The most recent died on Dec. 21.

At 5.55 p.m., security camera footage from a store on Calle Los Angeles opposite Prado’s home shows a group of protesters and others standing in the street.

The crowd is suddenly startled by something off camera and starts running. On the sidewalk on the far side of the road a person falls and lies still. A group of people come to check on the person, including Edgar who is seen walking the opposite way from the crowd and seemingly out of the entrance to his home. He kneels over the person and stays with them while others run off.

A minute later the footage shows Edgar is shot and collapses. He died the next morning on Dec. 16 from hemorrhagic hypovolemic shock, pulmonary and hepatic lacerations, and open chest trauma caused by a gunshot to the chest, according to his autopsy.

“The military is supposedly trained to fight terrorism, not take the lives of our residents,” his sister Edith told Reuters, adding that he had not been involved in the protests. “He was basically murdered by the military.”

She said Edgar left the house he shares with her after gunfire hit their gate and he saw protesters being hurt, a narrative that appears to tally with footage seen by Reuters. She showed Reuters bullet casings and marks on the door frame.

“The only thing I want is justice for my brother.”

GRAPHIC – Peru protest deaths

here

LETHAL FORCE A ‘LAST RESORT’

The military say they had come under serious attack, which gave them cause to respond with force.

At 1 p.m. on Dec. 15 a military unit that was heading from the town center to the Ayacucho airport was attacked by a crowd with “blunt objects, explosives and handmade firearms”, the armed forced said in a statement a day after.

This, the army said, put the troop’s “physical integrity at risk” and that they acted within “established legal procedure, strictly applying current norms regarding the use of force”.

Peru’s military regulations say that in a state of emergency, members of the armed forces can use firearms “in self defense or defense of other people, in the case of imminent risk of death or severe injury, or to avoid particularly dangerous crimes that pose a threat to life.”

It also says use of lethal force should be a “last resort”.

Reuters made repeated attempts to interview Peruvian police and military leaders by phone and in person. A reporter went to the military base in Ayacucho to speak to the local general in charge of operations, but was denied access.

The United Nations has called for investigations into child casualties in the protests. The Inter-American Commission on Human Rights has condemned violence by both security forces and protesters and called for dialogue.

The deaths have become a lightning rod for anger in poor Andean and Amazonian areas, when many feel overlooked despite local oil and copper wealth. Many want major political change and constitutional reform.

“They aimed bullets of war at our brothers,” said Rocio Leandro Melgar, a protest leader in Ayacucho, who blamed the government for allowing the violence to happen.

“We’ll keep moving forward, things can’t stay like this.”

‘GUNFIRE EVERYWHERE’

Other footage from a security camera at a parking garage near the airport shared with Reuters shows a man standing next to a building looking up the road. Something strikes his arm and he runs to hide behind a tree.

A few seconds later a second man is seen running through the tree-lined plaza opposite. The person runs across the road towards the parking garage camera and suddenly falls to the ground still. The owner of the parking garage said the person died.

Multiple residents in the same neighborhood surrounding the airport said sporadic gunfire continued well into the night.

Edith Aguilar says her son, Jose Luis, 20, was working at a local soft drinks factory until 6.30 p.m. on the day of the protests and was killed on his way home from work. Autopsy reports shared with Reuters show he died from severe head trauma from a gunshot.

“There was gunfire everywhere,” Aguilar, who lives in the area around the airport said. “You couldn’t even go outside.”

Aguilar said her sister-in-law called her asking whether her son had made it home. She had seen him walking in the street earlier and had heard someone matching his description had been killed.

“My son was coming back from work,” Aguilar said. “It’s a lie, those people who say we’re terrorists.”

The most recent fatality, 19-year-old Jhonathan Alarcon, died from internal bleeding on Dec. 21, a week after he was shot in the hip during the Ayacucho protests, according to his aunt who spoke to Reuters and data from Peru’s ombudsman.

In an act of protest, his family on Dec. 22 took his coffin to the plaza where he was shot, laying it on the ground while a band played music. One mourner shouted protest slogans from a megaphone underneath a big red banner commemorating the victims of what it called a “massacre”.

“They didn’t need to shoot like that,” Luzmila Alarcon, Jhonathan’s aunt who also attended the protest, told Reuters at his memorial service. “It looked like a clash between soldiers, but it was citizens versus the military.”

She said the deaths would spur more anger as people looked to find someone to hold accountable.

“It can’t be possible that no government or no authority takes responsibility for this,” she said. “They weren’t stray bullets or accidents. They were direct shots by the military … This isn’t the way to calm the population.”

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