Theory Ventures is an early-stage venture capital firm based in SF. We invest $1-25m in software companies that leverage technology discontinuities.

On our latest episode of In Practice @BEBischof sat down with @ethanyish (CEO, @AlliumLabs) to discuss: -> why a blockchain is a Turing machine, not a database -> how one wallet balance = replaying history to 2009 -> 12,000 dbt models, ~30PB, 3% the size of the web -> why AI agents shift leverage to domain experts
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We asked 25 top VCs: If you could invest in any venture fund started in the last 5 years, what would it be? There was one resounding answer @conviction
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Had a blast on @tbpn chatting all things @Backopsai. Thanks for having me!
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We’re starting a new series called Feature of the Week 🎉 This week’s feature by @Yah01_: Index prewarm now reads in parallel bytes windows. Loading a billion-vector index into memory used to take 95 minutes, now it takes 3.
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We apologize for our mcp blog post being too aligned with the mainstream narrative this week. @panth_bhavsar originally drafted this when people hated mcp but now it’s not spicy. As penance, Panth will be consuming these for lunch.
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Moving a shipment takes more than a truck. Pickups need confirming, documents need checking, and changes need coordinating. We sat down with @Backopsai CEO @seanmcccarthy to talk about why logistics is still so manual and what his team is doing to change that.
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BREAKING: @jordihays names Theory Ventures Partner @SpencerFarrar Best Surfer in Tech!
Happy Wednesday. On today's show: - @jerallaire (Circle) - @lrocket (Impulse Space) - @ttunguz (Theory Ventures) - @EliWachs (Footprint) - @seanmcccarthy (BackOps) - William Layden (Rune) - Justin Beroz (ReynKo) See you on the stream.
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Moving a shipment takes more than a truck. Pickups need confirming, documents need checking, and changes need coordinating. We sat down with @Backopsai CEO @seanmcccarthy to talk about why logistics is still so manual and what his team is doing to change that.
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Many concerns this weekend about slowing down AI, some targeting open models. We need to be responsible. But we can't let this slow down, or worse, prohibit open models. It's the wrong risk. Open models have tremendous power to democratize AI and make it more personal. The larger risk I see with open models is right in front of us: in the last week I've read about how many popular platforms quietly send data to foreign jurisdictions, or worse, sell or train on it to gain an advantage. And this is becoming more and more mainstream. Now more than ever open model vendors must act in the user's best interest, not their own: zero data retention or training, and hosting in the user's region vs sending data overseas. This has been our belief and commitment with @ollama. Nobody needs to slow down open models. We need to distribute and run them in a way users can trust.
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🦙 @ollama is used by 9 million developers and 85% of the Fortune 500, giving co-founder and CEO Jeffrey Morgan (@jmorgan) a unique view into which AI models people are actually using and how that’s changing. Right now, the biggest shift he sees is toward open models, driven by coding agents, falling costs, and capabilities that are rapidly catching up to the frontier labs. On Ollama Cloud, that shift has driven a 150x increase in token usage since the start of the year. In this episode of @LightconePod, Jeff joins @garrytan, @snowmaker, @sdianahu, and @harjtaggar to talk about the future of open models and the story behind Ollama, from two years of searching for the right idea to building one of the most widely used AI developer tools in the world. 00:43 — The Shift to Open Models 03:03 — How AI Agents Are Driving Token Usage 05:31 — Are Open Models Catching Up? 08:26 — What Happens When a New Model Launches 11:31 — Ollama as an Operating System for AI 14:05 — The New Opportunities Above the Model Layer 18:19 — Why 80–90% of Enterprise Tokens Could Be Open 20:57 — The Future Is Local and Cloud 26:40 — Why AI Is Coming Back to Your Computer 28:56 — The Coming Era of Unlimited Tokens 32:30 — Do We Still Need a “God Model”? 33:41 — Open Models and Geopolitics 36:14 — The Origins of Ollama 40:36 — Two Years Lost in the Wilderness 42:39 — The Pivot That Changed Everything 47:02 — How Ollama Found a Business Model 49:43 — Why Second-Time Founders Did YC
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More tokens per megawatt -> higher revenue per megawatt -> more profit into the next training run.
Model companies buy electricity by the megawatt and resell it as cognitive work. Anthropic's revenue has run as high as $50m per megawatt, against $10-15m of compute.
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The frontier AI market is sorting itself into closed camps, as labs pick partners, cut rivals, & ration access to their strongest models.
Article

The Price of Entry to the Frontier

The frontier AI market is sorting itself into closed camps, as labs pick partners, cut rivals, & ration access to their strongest models. Salesforce chose Anthropic as its dedicated AI partner, making

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When hundreds/thousands of new features ship every month, how do you coordinate project planning? Customer success? Sales enablement? Andy Triedman on what has to change:
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Ollama v0.33 is here! You can now easily configure Claude Desktop to seamlessly work with Ollama as a third-party gateway provider. One toggle. Cloud & local models just work👇
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🤯 Excited for all the models to come! Ollama is exploding in token usage. Better models, choice of apps/harness, and all private. We are just getting started. Let's continue this record-breaking streak.
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