For many people, the smartphone feels like a permanent part of daily life. It wakes us up, helps us work, keeps us connected, and entertains us. But Jon Callaghan, co-founder of the venture capital firm True Ventures, believes this may not always be the case. In fact, he thinks we may stop using smartphones in their current form within five years. In ten years, he believes they could disappear altogether or be replaced by something very different.
This is not just a personal opinion. Callaghan and his firm are actively investing based on this belief. True Ventures has spent years backing companies that explore new ways for people to interact with technology. According to Callaghan, the smartphone is no longer the best tool for how humans think, communicate, and create ideas.
A Venture Firm That Moves Quietly
True Ventures is not the loudest name in Silicon Valley, but it has built an impressive record over the past 20 years. The firm manages about six billion dollars across several funds and has invested in nearly 300 companies. Many of these investments turned into major successes.
Some well-known names in its portfolio include Fitbit, Ring, Peloton, HashiCorp, and Duo Security. Over time, True has recorded more than 60 successful exits and seven companies that went public. Many founders who worked with True in the past have returned to raise money again, showing a strong level of trust in the firm.
While many venture capital firms focus on marketing themselves through podcasts and social media, True has taken a quieter path. It prefers to build long-term relationships with founders and focus on ideas that feel uncomfortable or unpopular at first.
Questioning the Smartphone
Callaghan believes smartphones are not a good interface between people and intelligence. By intelligence, he means both human thought and artificial intelligence. He argues that pulling out a phone to send a quick message or write a note interrupts daily life and often causes distraction.
Typing on a small screen can be slow and error-prone. Notifications pull attention away from important moments. According to Callaghan, this way of interacting with technology does not feel natural. It forces people to adapt to the device instead of the device adapting to people.
Because of this, True Ventures has spent years studying alternatives. The firm has explored software tools, wearable devices, and other hardware that could replace or reduce our dependence on phones.
Betting on New Ways of Behavior
True Ventures has a history of supporting ideas that did not seem obvious at the time. Fitbit was funded before wearables became popular. Peloton was rejected by many investors before becoming a household name. Ring struggled for years and was even turned down on a popular TV show before succeeding.
In each case, Callaghan says the product itself was not the most important part. What mattered was the behavior it enabled. Fitbit encouraged people to move more. Peloton built a sense of shared fitness and community. Ring changed how people think about home security.
True believes technology succeeds when it fits naturally into human habits. This belief is shaping how the firm invests today.
Introducing a New Kind of Device
One of the latest examples of this thinking is a product called Sandbar. Sandbar is a small ring worn on the index finger. It is voice-activated and designed to capture thoughts when ideas appear. Callaghan describes it as a thought companion.
The ring allows users to record voice notes quickly without reaching for a phone. These notes are organized through an app that uses artificial intelligence. The device is not always listening. It only works when the user chooses to activate it.
Sandbar is not meant to track health or replace smartwatches. It focuses on one simple task, capturing thoughts clearly and easily. Callaghan believes this solves a real human problem. Many people have ideas during walks, conversations, or quiet moments, but they lose them because recording them feels inconvenient.
Why True Believes in Sandbar
True Ventures was drawn to Sandbar not only because of the product but also because of its founders, Mina Fahmi and Kirak Hong. The two previously worked on neural interface technology at CTRL-Labs, a company that was acquired by Meta in 2019.
Callaghan says True and the founders shared the same long-term vision from the beginning. True had already been thinking deeply about new interfaces and had spoken to many founders exploring similar ideas. What made Sandbar stand out was its focus on enabling a behavior people may soon depend on.
Just as Peloton was not really about the bike, Sandbar is not just about the ring. It is about helping people think, remember, and create without friction.
Staying Disciplined in a Fast-Moving Market
While many artificial intelligence startups raise huge amounts of money at very high valuations, True Ventures has stayed disciplined. The firm usually invests early, writing seed checks between three and six million dollars. In return, it aims to own a meaningful share of the company.
Callaghan believes raising too much money too quickly can create problems. He does not see the need to manage massive funds just for the sake of size. According to him, it is still possible to build great companies without endless capital.
This careful approach has helped True stay focused, even as the technology world becomes louder and more crowded.
A Balanced View on Artificial Intelligence
Callaghan is optimistic about artificial intelligence but also cautious. He believes companies like OpenAI could become extremely valuable. At the same time, he worries about the amount of money being poured into data centers, chips, and infrastructure.
He sees risk in how much capital is tied up in large technology players and their long-term spending plans. However, he believes the biggest opportunities are still ahead.
According to Callaghan, real value will be created at the application level. This is where new tools and interfaces allow people to do things they could not do before.
Investing Where Others Hesitate
Callaghan describes early-stage investing as uncomfortable by nature. He believes the best ideas often feel unclear and risky at first. When an idea is obvious, it is usually too late.
He says good investing often feels lonely. People may question your decisions or call them unrealistic. But if you believe in the team and the vision, that uncertainty is part of the process.
True Ventures has followed this philosophy for two decades, and its results suggest the approach works.
Signs of a Changing Tech Landscape
Market data also supports Callaghan’s view. The smartphone market is no longer growing quickly. Sales are increasing by only a small percentage each year. At the same time, wearables such as smartwatches, rings, and voice-based devices are growing much faster.
People seem to want technology that blends into their lives instead of demanding constant attention. This shift suggests that the smartphone may no longer be the center of personal technology in the future.
Conclusion
The idea that smartphones could fade away may sound extreme, but history shows that no technology lasts forever. Jon Callaghan and True Ventures believe we are entering a new phase where how we interact with technology matters more than the devices themselves.
By focusing on human behavior rather than flashy gadgets, True is betting on tools that feel natural, simple, and helpful. Whether it is a fitness tracker, a connected bike, or a small ring that captures thoughts, the goal remains the same. Technology should support human life, not interrupt it.
If the trends continue, the smartphone may not disappear overnight, but its role could shrink. Something new is taking shape, and firms like True Ventures are placing their bets early, just as they always have.
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