StrictlyVC: October 20, 2015

Top News in the A.M. Venture capital funds should face less red tape across the 28-nation European Union so there can be more of them and in more regions, EU Financial Services Commissioner Jonathan Hill said at a conference earlier today in Brussels. One is former site merchandiser Bo Olson, who spent roughly 20 months at Amazon and had told the Times for its story, “You walk out of a conference room and you’ll see a grown man covering his face . Nearly every person I worked with, I saw cry at their desk.” Wrote Carney of Olson today: “His brief tenure at Amazon ended after an investigation revealed he had attempted to defraud vendors and conceal it by falsifying business records. ZeroStack, a 1.5-year-old, Mountain View, Ca.-based developer of self-service and scale-out private clouds, has raised $16 million in Series B funding led by Formation 8, with participation from from earlier investor Foundation Capital and company board member Mark Leslie. One week after announcing major layoffs, Twitter is hiring New York Times editor at large Marcus Mabry to help develop editorial direction for its new Moments section.