How Theory Ventures Differentiates in a Crowded VC Market

This week on Turpentine VC, we feature a compilation episode of our popular interviews with Tom Tunguz, General Partner at Theory Ventures who just announced a $450M second fund less than two years after launching. Over the course of the episode Tomasz explains their concentrated portfolio approach, and expands on their key theses in AI, decentralized infrastructure, and the future for data businesses (like Databricks and Snowflake).
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LINKS:

Tom’s Website: https://tomtunguz.com/
Theory Ventures: https://theory.ventures/

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FOLLOW:

@ttunguz
@Theoryvc
@eriktorenberg
@TurpentineVC

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TIMESTAMPS:

(00:00) Intro
(00:46) Theory Ventures' unique approach
(01:51) Concentrated portfolios and market trends
(08:09) AI and data business insights
(10:46) Sponsors: Carta | GiveWell
(12:57) Modern data stack and blockchain
(17:20) Venture capital landscape and LP dynamics
(25:15) Sponsor: Squad
(26:22) Economic outlook and future predictions
(28:50) Understanding software valuations
(29:33) Impact of interest rates on startups
(30:13) Innovative go-to-market strategies
(30:56) Future of Theory Ventures
(32:37) Concentration vs. diversification in funds
(33:33) Databricks case study
(35:18) Structured vs. unstructured data
(39:01) The modern data stack
(43:43) AI and data security
(48:43) The future of NVIDIA and GPUs
(54:05) Wrap