The phone is dead. Long live . . . what exactly?

True Ventures co-founder Jon Callaghan doesn't think we'll be using smartphones the way we do now in five years — and maybe not at all in 10.

For a venture capitalist whose firm has had some big winners over its two decades – from consumer brands like Fitbit, Ring, and Peloton, to enterprise software makers HashiCorp and Duo Security – that's more than armchair theorizing; it's a thesis on which True Ventures is actively betting.