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Equity

The Theory Ventures venture theory with Tomasz Tunguz

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 25 October 2023

⏱️ 31 minutes

🧾️ Download transcript

Summary

Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Wednesday show, where we sit down with a guest, talk about their work and dive deep into the rest. This week, we had Theory Ventures founder Tomasz Tunguz on the show. As long-time readers of his work, having the former Redpoint investor on the show was a no-brainer. While it would have been fun to spend our time chatting about the ups and down of writing or the Internet, we instead explored a wide range of topics:  Why Tunguz left Redpoint and started his own fund; Why seed deals do not get smaller over time; The thesis that underpins Theory Ventures’ investments and the future of machine learning; Why Tunguz is bullish on Ethereum; The value of software, the health of software companies, and why venture math still holds up at lower valuation multiples. And more! It was a great chat; Equity will be back on Friday! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello and welcome back to Equity, a podcast about the business of startups where we unpack

0:16.2

the numbers and the new ones behind the headlines. This is Alex and this is our Wednesday show

0:20.5

where we sit down with a guest, think about their work, and unpack the rest.

0:24.4

Today we are talking to Tamash Tungoo's, founder of Theory Ventures, a $235 million early stage venture capital

0:31.4

fund. It's new and you may know him from his time at

0:34.1

Redpoint. Tamash, hey how you doing? Hey I'm thrilled to be here. Thanks so much for

0:38.2

having me on the show Alex. Yeah absolutely and like normally when we have guests on

0:42.3

I have precisely and exactly no fan boy energy to myself

0:47.3

But I have been a reader of your blog for long enough that I was legitimately like oh, he's coming on the show

0:51.9

So thank you for making this a really weird one on my end.

0:55.0

No, I've read incalcable numbers of articles that you've written and all the stories you've broken,

1:00.0

so thank you.

1:01.0

Well, that's because you and I suffer from the same issue of having too many stupid little

1:04.4

thoughts to put out on the internet. But you do a lot more than blog, of course you've been a VC since

1:08.7

2008, 14 years at Redpoint, worked at Google and Appian before that, and wrote a book, which actually I didn't get a chance to read, but you wrote,

1:16.1

Winning with Data, which now feels very topical given all the AI stuff going around the world.

1:20.8

I had the pleasure of writing it with the CEO of

1:23.1

Looker Frank Bien and we wrote about a lot of the data trends it's a totally

1:27.3

different thing to write a book than it is to write a block. Yes because it's about

1:31.1

what 15,000 times as hard you can take?

1:34.0

Exactly.

1:35.0

But it was a wonderful adventure.

...

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