Tomas is a partner at Theory Ventures, a venture capital firm focused on early-stage infrastructure and AI investments. He has invested in inference optimization (Sail), local inference (Ollama), and tracks vertical AI valuations, legacy software rollups, and the agentic economy.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
Fastest-growing AI harnesses trade at 100-150x current ARR, often with subsidized margins to maximize distribution. Portfolio company already charges at par with human labor and will likely charge a premium given no management/healthcare overhead and instant scalability.
Sale addresses the inference market's segmentation by offering dramatically cheaper compute for workloads tolerant of 5-10 minute latency (e.g., Databricks-style batch jobs), capturing the non-real-time inference segment that doesn't need premium instant response.
Ollama enables local AI inference on consumer hardware (90% of white-collar use cases run on MacBook per Stanford study), with seamless cloud burst for heavier workloads, capturing the edge inference layer.