The Decade of Data (Tomasz Tunguz)

Speaker A: What's really exciting for crypto is you have the entire US stock market, which is the largest stock market in the world, and then you have crypto, which is large but not as large. And all of a sudden those pools of capital should fuse, which is great. I think software startups will have a much faster path to IPO as a result of crypto than they've had in the last 10 years. Speaker B: How does this change end up accelerating the timeline to IPOs for some of these software companies, do you think?

Speaker A: We have made it so expensive to go public that if you're a microcap software company, if you're worth somewhere between $1.5 to $2 billion, it's not economic to go public. Most of those companies get taken out by PE right away. And so wouldn't it be amazing if you had a venue where small-cap, high-growth software companies were publicly traded? Speaker C: Hey, I'm Mario, and this is The Generalist Podcast. As the saying goes, the future's already here. It's just not evenly distributed. Speaker B: On this show, I sit down with the founders, investors, and thinkers who are living in the future.

To help you see it earlier, understand it better, and capitalize on it. Today, I'm speaking with Tomáš Tungus, the founder and managing partner of Theory Ventures. In just 2 years, Theory has raised nearly $700 million in capital and backed promising startups across AI, crypto, data analytics, and data infrastructure. As Tomáš shared, his goal with Theory isn't just to build another venture firm, but something closer to an investing corporation. In our conversation, we discuss what it takes to build a modern venture firm and how Theory is accelerating deal flow analysis and market mapping with AI.