The Decade of Data with Tomasz TunguzInside Theory Ventures: Tomasz Tunguz shares how tokenized IPOs, AI agents, and the “decade of data” are rewriting the VC playbook.Thank you to the partners who make this possibleBrex: The banking solution for startups. Generalist+: Essential intelligence for modern investors and technologists. Tomasz Tunguz has spent almost two decades turning data into investment insights. After an impressive run at Redpoint Ventures, where he backed Looker, Expensify, Monte Carlo, and more, Tomasz launched Theory Ventures in 2022. His debut fund, which closed at $238 million, was followed 19 months later by a $450 million second fund. Theory’s goal is simple but striking: to build an “investing corporation” where researchers, engineers, and operators sit alongside investors, arming the partnership with real‐time market maps, in‑house AI tooling, and domain expertise. Centered on data, AI, and crypto infrastructure, the firm operates at the very heart of many of today’s most consequential technological shifts. In our conversation, we explore:
Explore the episodeTimestamps(00:00) Intro (03:37) Tomasz's background and journey to founding Theory Ventures (04:57) Theory's data-driven approach to venture (09:25) The importance of functional experts on investment teams (11:45) Theory's focus on data systems and why they matter (15:02) The decade of data (18:40) The challenges of chip-level investment (20:11) The state of crypto (23:30) How crypto could accelerate IPO timelines (28:12) Tokenized secondaries and venture capital’s evolution (32:18) Ethereum's challenges against competitors like Solana (37:25) Hyperliquid (38:38) The shift from proof of work to proof of stake to proof of authority (41:20) How Tomasz uses AI for personal productivity (45:03) How Theory Ventures uses AI internally (49:41) The future of work with AI agents (52:42) The current state of the AI race between Microsoft, Google, and Meta (58:28) Final meditations Follow Tomasz TunguzWebsite: https://tomtunguz.com/ LinkedIn: https://www.linkedin.com/in/tomasztunguz/ Resources and episode mentionsBook
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