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Aug 5, 2015 · 21m · 20vc

20 VC 060: 12 Acquisitions, $1bn In Exits, Mike Jones, Former MySpace CEO on Life At Science Inc.

Mike Jones · 15m spoken Harry Stebbings · 4m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this episode of The 20 Minute VC, host Harry Stebbings interviews Mike Jones, Founder and CEO of Science Inc. and former CEO of MySpace, discussing his background, the studio model behind Science Inc., and strategies for selecting and scaling high-growth startups.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Harry holds 24.4% of the talking time here. How this is scored →

Harry as informed peer 1.8 Guest teaching 1.5 Guest disagreement 0.0 Harry pushing back 0.0
05100:0010:0020:001:38–4:39 · Harry as informed peer 1/10 Welcome and Transition into the Main Interview Harry welcomes Mike and asks about his career trajectory from early startups to MySpace. Mike provides a detailed narrative of his background and transition into leading MySpace. The atmosphere is completely cooperative and welcoming.4:40–8:32 · Harry as informed peer 2/10 The Conception and Founding Mission of Science Inc. Harry asks how Science Inc. differs from Y Combinator and inquires about Science's investment methodology. Mike outlines Science's focus on operational involvement, paid media acquisition, and clear exit pathways. The conversation remains an open, informative dialogue.8:33–13:05 · Harry as informed peer 2/10 Common Traits of Successful Founders Across Portfolio Companies Harry asks about common traits in successful portfolio founders and how culture is maintained across companies under one roof. Mike clarifies that portfolio companies create their own distinct cultures while Science stays in the background. Harry facilitates smooth thematic transitions without challenging premises.13:06–15:37 · Harry as informed peer 3/10 Mobile Platform Disruption and Science Media Group Strategy Harry demonstrates research by citing a past statement Mike made regarding mobile app network disruption. Mike elaborates on Science Media Group's mobile focus and the venture capital environment in LA. The dynamic is collaborative and research-backed.15:38–18:26 · Harry as informed peer 2/10 Quick-Fire Round: Book Recommendation and MySpace Relaunch Effort Harry transitions into a quick-fire round, but breaks the format to ask a inquisitive follow-up about how Mike inspired his MySpace team during a tough turnaround. Mike reflects warmly on team dedication despite uphill challenges.18:26–20:20 · Harry as informed peer 1/10 Quick-Fire Round: Content Curation, Business Model Challenges, and Enthusiasm Harry completes the quick-fire questions regarding information consumption, business model challenges, and current portfolio excitement. Mike explains the unique positioning challenges of an incubator versus a traditional venture fund before Harry wraps up the episode.1:38–4:39 · Guest teaching 1/10 Welcome and Transition into the Main Interview Harry welcomes Mike and asks about his career trajectory from early startups to MySpace. Mike provides a detailed narrative of his background and transition into leading MySpace. The atmosphere is completely cooperative and welcoming.4:40–8:32 · Guest teaching 2/10 The Conception and Founding Mission of Science Inc. Harry asks how Science Inc. differs from Y Combinator and inquires about Science's investment methodology. Mike outlines Science's focus on operational involvement, paid media acquisition, and clear exit pathways. The conversation remains an open, informative dialogue.8:33–13:05 · Guest teaching 2/10 Common Traits of Successful Founders Across Portfolio Companies Harry asks about common traits in successful portfolio founders and how culture is maintained across companies under one roof. Mike clarifies that portfolio companies create their own distinct cultures while Science stays in the background. Harry facilitates smooth thematic transitions without challenging premises.13:06–15:37 · Guest teaching 1/10 Mobile Platform Disruption and Science Media Group Strategy Harry demonstrates research by citing a past statement Mike made regarding mobile app network disruption. Mike elaborates on Science Media Group's mobile focus and the venture capital environment in LA. The dynamic is collaborative and research-backed.15:38–18:26 · Guest teaching 1/10 Quick-Fire Round: Book Recommendation and MySpace Relaunch Effort Harry transitions into a quick-fire round, but breaks the format to ask a inquisitive follow-up about how Mike inspired his MySpace team during a tough turnaround. Mike reflects warmly on team dedication despite uphill challenges.18:26–20:20 · Guest teaching 2/10 Quick-Fire Round: Content Curation, Business Model Challenges, and Enthusiasm Harry completes the quick-fire questions regarding information consumption, business model challenges, and current portfolio excitement. Mike explains the unique positioning challenges of an incubator versus a traditional venture fund before Harry wraps up the episode.1:38–4:39 · Guest disagreement 0/10 Welcome and Transition into the Main Interview Harry welcomes Mike and asks about his career trajectory from early startups to MySpace. Mike provides a detailed narrative of his background and transition into leading MySpace. The atmosphere is completely cooperative and welcoming.4:40–8:32 · Guest disagreement 0/10 The Conception and Founding Mission of Science Inc. Harry asks how Science Inc. differs from Y Combinator and inquires about Science's investment methodology. Mike outlines Science's focus on operational involvement, paid media acquisition, and clear exit pathways. The conversation remains an open, informative dialogue.8:33–13:05 · Guest disagreement 0/10 Common Traits of Successful Founders Across Portfolio Companies Harry asks about common traits in successful portfolio founders and how culture is maintained across companies under one roof. Mike clarifies that portfolio companies create their own distinct cultures while Science stays in the background. Harry facilitates smooth thematic transitions without challenging premises.13:06–15:37 · Guest disagreement 0/10 Mobile Platform Disruption and Science Media Group Strategy Harry demonstrates research by citing a past statement Mike made regarding mobile app network disruption. Mike elaborates on Science Media Group's mobile focus and the venture capital environment in LA. The dynamic is collaborative and research-backed.15:38–18:26 · Guest disagreement 0/10 Quick-Fire Round: Book Recommendation and MySpace Relaunch Effort Harry transitions into a quick-fire round, but breaks the format to ask a inquisitive follow-up about how Mike inspired his MySpace team during a tough turnaround. Mike reflects warmly on team dedication despite uphill challenges.18:26–20:20 · Guest disagreement 0/10 Quick-Fire Round: Content Curation, Business Model Challenges, and Enthusiasm Harry completes the quick-fire questions regarding information consumption, business model challenges, and current portfolio excitement. Mike explains the unique positioning challenges of an incubator versus a traditional venture fund before Harry wraps up the episode.1:38–4:39 · Harry pushing back 0/10 Welcome and Transition into the Main Interview Harry welcomes Mike and asks about his career trajectory from early startups to MySpace. Mike provides a detailed narrative of his background and transition into leading MySpace. The atmosphere is completely cooperative and welcoming.4:40–8:32 · Harry pushing back 0/10 The Conception and Founding Mission of Science Inc. Harry asks how Science Inc. differs from Y Combinator and inquires about Science's investment methodology. Mike outlines Science's focus on operational involvement, paid media acquisition, and clear exit pathways. The conversation remains an open, informative dialogue.8:33–13:05 · Harry pushing back 0/10 Common Traits of Successful Founders Across Portfolio Companies Harry asks about common traits in successful portfolio founders and how culture is maintained across companies under one roof. Mike clarifies that portfolio companies create their own distinct cultures while Science stays in the background. Harry facilitates smooth thematic transitions without challenging premises.13:06–15:37 · Harry pushing back 0/10 Mobile Platform Disruption and Science Media Group Strategy Harry demonstrates research by citing a past statement Mike made regarding mobile app network disruption. Mike elaborates on Science Media Group's mobile focus and the venture capital environment in LA. The dynamic is collaborative and research-backed.15:38–18:26 · Harry pushing back 0/10 Quick-Fire Round: Book Recommendation and MySpace Relaunch Effort Harry transitions into a quick-fire round, but breaks the format to ask a inquisitive follow-up about how Mike inspired his MySpace team during a tough turnaround. Mike reflects warmly on team dedication despite uphill challenges.18:26–20:20 · Harry pushing back 0/10 Quick-Fire Round: Content Curation, Business Model Challenges, and Enthusiasm Harry completes the quick-fire questions regarding information consumption, business model challenges, and current portfolio excitement. Mike explains the unique positioning challenges of an incubator versus a traditional venture fund before Harry wraps up the episode.

speaking balance: gold is Harry, purple is the guest (3 minute bins)

0:00 · Harry 65.8% · guest 34.2%0:00 · Harry 65.8% · guest 34.2%3:00 · Harry 6.3% · guest 93.7%3:00 · Harry 6.3% · guest 93.7%6:00 · Harry 17.6% · guest 82.4%6:00 · Harry 17.6% · guest 82.4%9:00 · Harry 10.6% · guest 89.4%9:00 · Harry 10.6% · guest 89.4%12:00 · Harry 14.3% · guest 85.7%12:00 · Harry 14.3% · guest 85.7%15:00 · Harry 12.9% · guest 87.1%15:00 · Harry 12.9% · guest 87.1%18:00 · Harry 31.9% · guest 68.1%18:00 · Harry 31.9% · guest 68.1%21:00 · Harry 100% · guest 0%21:00 · Harry 100% · guest 0%
Sharpest disagreement ▶ 11:15 Reframing culture ownership at Science

Mike gently reframe's Harry's premise on central company culture, clarifying that Science must fall into the background while individual CEOs build their own unique organizational cultures.

 Hardest push from Harry ▶ 17:16 Breaking quick-fire format to press on leadership

Harry intentionally pauses the quick-fire structure to press deeper into how Mike managed to rally and inspire employees during a widely publicized turnaround attempt.

 Biggest teaching moment ▶ 18:56 Explaining incubator structure complexity

Mike educates the host on why explaining an incubator studio holding equity across various portfolio companies is far more complex than pitching a standard venture capital fund.

 Harry holds his own ▶ 13:58 Citing past statement on mobile disruption

Harry displays host preparation by directly quoting a statement Mike made years earlier regarding mobile app networks as the next industry ripe for disruption.
the scores for every segment, with the reasoning behind each
ChapterTopicHarry as informed peerGuest teachingGuest disagreementHarry pushing backWhy
Welcome and Transition into the Main Interview 1100 Harry welcomes Mike and asks about his career trajectory from early startups to MySpace. Mike provides a detailed narrative of his background and transition into leading MySpace. The atmosphere is completely cooperative and welcoming.
The Conception and Founding Mission of Science Inc. 2200 Harry asks how Science Inc. differs from Y Combinator and inquires about Science's investment methodology. Mike outlines Science's focus on operational involvement, paid media acquisition, and clear exit pathways. The conversation remains an open, informative dialogue.
Common Traits of Successful Founders Across Portfolio Companies 2200 Harry asks about common traits in successful portfolio founders and how culture is maintained across companies under one roof. Mike clarifies that portfolio companies create their own distinct cultures while Science stays in the background. Harry facilitates smooth thematic transitions without challenging premises.
Mobile Platform Disruption and Science Media Group Strategy 3100 Harry demonstrates research by citing a past statement Mike made regarding mobile app network disruption. Mike elaborates on Science Media Group's mobile focus and the venture capital environment in LA. The dynamic is collaborative and research-backed.
Quick-Fire Round: Book Recommendation and MySpace Relaunch Effort 2100 Harry transitions into a quick-fire round, but breaks the format to ask a inquisitive follow-up about how Mike inspired his MySpace team during a tough turnaround. Mike reflects warmly on team dedication despite uphill challenges.
Quick-Fire Round: Content Curation, Business Model Challenges, and Enthusiasm 1200 Harry completes the quick-fire questions regarding information consumption, business model challenges, and current portfolio excitement. Mike explains the unique positioning challenges of an incubator versus a traditional venture fund before Harry wraps up the episode.

Statements from this episode (9)

Assertion Supported
Science Inc. leadership has achieved over 12 acquisitions and $1B in exits
“Their portfolio includes the likes of Medium, Dollar Shave Club, And Dog Vacay, just to name a few, and their leadership is responsible for an astonishing 12 acquisitions and over a billion dollars in exits.”
Harry Stebbings Aug 5, 2015 ▶ 0:21
Insight
Science Inc. focuses on startups that can scale through paid media
“Unlike maybe, you know, certain investors or venture groups where they invest in a whole wide variety of different industries, I look for things that we expressly have in, you know, internal information on how to build. So for me, that typically means companie…”
Mike Jones Aug 5, 2015 ▶ 7:02
Insight
Science Inc. seeks young, feedback-receptive startup founders
“We need incredible CEOs and entrepreneurs that are both, you know, young and eager enough to want to jump into starting a new company, but also receiving enough that they'll take constructive feedback and hopefully guidance provided by our team.”
Mike Jones Aug 5, 2015 ▶ 7:54
Insight
Science Inc. requires clear downstream funding and M&A pathways before incubating
“We also look for businesses where we have, you know, direct connections with the funding groups and in the M&A environment. So I prefer businesses where if they're doing really, really well, I know who to go to get them financed. And I know who to go to when t…”
Mike Jones Aug 5, 2015 ▶ 8:11
Insight
Inspirational leadership is essential to offset below-market startup compensation
“You're typically kind of underpaying the market. You've got to have leadership that inspires people that makes the one, you know, that makes the best people want to work with those individuals.”
Mike Jones Aug 5, 2015 ▶ 9:28
Insight
Startup incubators should stay secondary to portfolio CEOs and their teams
“Science fundamentally needs to fall into the background. The stars in our building are the CEOs and the teams that run these great operational businesses. And my team and any cultural, you know, thesis that, that science brings to it really needs to be, you kn…”
Mike Jones Aug 5, 2015 ▶ 11:28
Opinion
Venture capital and proximity to Silicon Valley drive LA tech growth
“Well, listen, I think that, you know, whether you know, what drives the growth is venture capital, and we're fortunate in that we are a close proximity to Silicon Valley.”
Mike Jones Aug 5, 2015 ▶ 15:06
Assertion Not checkable as stated
MySpace rebuild team accomplished with 200 engineers what previously took 2,000
“Being able to do with a 200 person tech team what previously they had done with a 2000 person tech team”
Mike Jones Aug 5, 2015 ▶ 16:31
Assertion Not checkable as stated
Communicating the studio model to investors is Science Inc.'s greatest challenge
“But when you're launching a, an incubator or a studio that, in essence, holds equity in various degrees of a whole portfolio of different companies, it's a very different entity. So honestly, one of the most challenging parts has been Conveying the strategy an…”
Mike Jones Aug 5, 2015 ▶ 19:11
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