E17: Theory Ventures’ Tomasz Tunguz on What It Takes to Be a Great CFO

On this episode on Run the Numbers CJ and Erik Torenberg welcome Tomasz Tunguz from Theory Ventures for an in-depth conversation about building businesses, how CFOs can evolve with realtime needs of venture-backed companies, and an investor’s lens on what makes a great CFO. If you’re looking for an ERP platform, check out our sponsor, NetSuite: https://netsuite.com/metrics

Tom Tunguz is the founder of Theory Ventures. Prior to that he was a GP at Redpoint for 14 years, and worked at Google prior to that. He is the author of long-running business newsletter found at www.tomtunguz.com
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SPONSORS:
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RECOMMENDED PODCAST:
To go deeper in all things Venture, check out Turpentine VC on audio (https://link.chtbl.com/TurpentineVC) or YouTube (https://www.youtube.com/@TurpentineVC)

X / TWITTER:
@ttunguz (Tom)
@cjgustafson222 (CJ)
@eriktorenberg (Erik)
@TurpentineMedia (Turpentine)

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LINKS:
Tom’s blog: https://tomtunguz.com/
Mostly Metrics: https://www.mostlymetrics.com/
Theory Ventures: https://theory.ventures/
Tom’s interview on HR Heretics: https://open.spotify.com/episode/1B4aYWnV9pJkcQuCgq1tTy

TIMESTAMPS:
(00:00) Intro and CJ’s personal news
(01:00) Tom Tunguz intro
(03:50) Tom’s idea maze in getting Theory Ventures off the ground
(05:40) What differentiates Theory from other VCs?
(07:29) On bringing in someone more experienced to replace or level up a founder
(09:10) Patterns that show a need to bring in a seasoned operator
(11:28) What it takes for a founder to make it all the way through IPO
(13:19) How long should company runway be?
(15:05) Sponsors: NetSuite | Tropic
(17:32) Counseling portfolio companies in hiring VPF or CFO
(18:47) A good CFO vs a great CFO
(24:13) Why now is a good time for young, ambitious people to step up and take a bigger role within their organization
(26:02) Sponsor: Planful
(27:08) The future of Theory Ventures

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