Michael Skok

Founding Partner Emeritus, Underscore VC · 1 appearance on the record.

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investorfounderexecutive@mjskok ↗LinkedIn ↗mjskok.com ↗

After spending over two decades as a software entrepreneur and CEO founding companies like AlphaBlox, Michael Skok transitioned to venture capital at North Bridge Venture Partners before co-founding Underscore VC. He has backed companies including Acquia and Demandware and created the Startup Secrets curriculum taught at Harvard Innovation Labs.

16statements → 6claims → 3claims resolved → 67%fully supported → 4.38/5average certainty → 2/5average debate potential → 3.8/5argument clarity · the sources → 3said about them ↓

2 supported 0 partly supported 1 contradicted 1 not yet assessed 2 not checkable as stated how the 6 claims stand · each chip opens the sources

6 assertions · 1 opinion · 5 insights · 4 disclosures · every statement was checked. The predictions and assertions are the 6 claims: statements the public record can support or contradict. 3 are resolved, 1 is not yet assessed, and 2 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Michael argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Underscore VC's inaugural fund is backed by a $40B+ LP base
“The fund has been oversubscribed very quickly. We were able to select the VC, sorry, the LPs who really understood the model and wanted to get behind it. I'm happy to tell you that, you know, that's well over forty billion dollars worth of capital in the found…”
Michael Skok Sep 21, 2016 ▶ 9:52 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC

Their most notable contradicted claim

Assertion Contradicted
Mautic Acquired Over 50,000 Customers in First Year
“And for him, what that's meant is in his first year, he's gone from zero customers to well over 50,000 customers”
Michael Skok Sep 21, 2016 ▶ 16:20 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
100% certainty 3
none yet certainty 4
50% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

Argument clarity: do they answer the question? how? →

3.8 / 5 directness 3.4 · coherence 4 · precision 3.4 · compression 3.2

redirected or did not address 5 of 14 assessed questions (36%). Watch them ▸

This is a score against a rubric. It is not a rank. Every host question → answer exchange is scored with names hidden on directness, coherence, precision and compression, 1–5 each, on meaning alone: disfluencies are ignored, and only raw unedited episodes count. This is the score that measures thought. Every scored exchange, scores shown → · The rubric and its checks →

How they sound: speaking style how? →

291 words/min while actually speaking · 15.8 um and uh per 1k words

Measured by listening to the audio itself: 5,687 words across 1 episode of raw-level tape, transcribed verbatim with every um and uh kept, each one attributed only where the alignment onto our timed stream is unambiguous. These are measurements of speaking style. We do not rank them: across this corpus, fluency and argument quality are nearly uncorrelated (ρ≈0.2), and smooth talking does not signal clear thinking. How it's measured →

Everything Michael Skok said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Opinion
Michael Skok: Early-stage startup valuation is a stunningly stupid concept
“Well, first of all, valuation is just a stunningly stupid concept. Who on earth can value a person? I can't. And at the stage that we're working at, we're valuing people.”
Michael Skok Sep 21, 2016 ▶ 21:54 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Disclosure
Underscore VC runs diligence and deal flow transparently in the cloud
“In fact, our core members, when they're investing with us, get to watch us and participate in a whole cloud based investing program, because the way in which we do our investments is, you know, we eat our own cooking here. So everything is in the cloud because…”
Michael Skok Sep 21, 2016 ▶ 24:12 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Assertion Not checkable as stated
Skok: Venture capital suffers from poor alignment between founders, VCs, and LPs
“There isn't good alignment, whether people like it or not, between the entrepreneur, their VC, and the VC, and their GPs, and sorry, and their LPs in many instances.”
Michael Skok Sep 21, 2016 ▶ 4:27 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Disclosure
Underscore VC shares carried interest with community advisors
“First of all, we're going to take a chunk of our carry, and we're going to make it accessible to what we call our community, which is the cause.”
Michael Skok Sep 21, 2016 ▶ 7:16 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Disclosure
Underscore VC commits $5M Series A checks alongside initial seed funding
“We'll give you a seed check to get the initial team together, but we'll also do something we've called vector funding, which is right. Very clear basis for them, for the entrepreneur to go from seed all the way through to series a and commit to that series a, …”
Michael Skok Sep 21, 2016 ▶ 15:53 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Insight
Skok: Venture capital is a commodity while founder time is priceless
“Capital is clearly a commodity and entrepreneurs lives clearly aren't.”
Michael Skok Sep 21, 2016 ▶ 3:30 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Assertion Not publicly verifiable
Skok: Underscore VC founders committed 5x traditional GP capital
“I mean, we put five times as much capital in individually as the founders here than would traditionally be the case.”
Michael Skok Sep 21, 2016 ▶ 10:46 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Insight
Skok: Emerging VCs should target endowments over individual investors
“It's very important to look at this as a business that is At least a decade long fund at a time, and you never really know the results of your fund's performance for some number of years. So you need to get investors who are very patient, and you have the you …”
Michael Skok Sep 21, 2016 ▶ 13:06 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Assertion Contradicted
Mautic Acquired Over 50,000 Customers in First Year
“And for him, what that's meant is in his first year, he's gone from zero customers to well over 50,000 customers”
Michael Skok Sep 21, 2016 ▶ 16:20 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Insight
Startups should target a Minimum Viable Segment before broader market fit
“MVP is great, but I'll tell you the next big milestone that most people miss is in product market fit. They say, Oh, well, you're going to go prove that that product's being accepted by the market. Yes. But the market's huge if you're going up to something sig…”
Michael Skok Sep 21, 2016 ▶ 18:01 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Assertion Not checkable as stated
Skok: Infrastructure startups take up to 3 years to reach MVS
“In some cases, I've seen it, for example, when you get into infrastructure products, you know, this is things like, for example, data warehousing as a service, companies like Casino that are doing that. That could take three years, because you're knocking down…”
Michael Skok Sep 21, 2016 ▶ 18:34 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Insight
Skok: Category-creating startups begin by addressing latent, unrecognized customer needs
“In many instances, if you're creating something, you're going to start at a latent aspirational level. You really won't have customers begging for what you're doing because you're creating it. They don't know they have that need.”
Michael Skok Sep 21, 2016 ▶ 20:50 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Insight
Skok: Blogging helps founders organize thoughts and attract relevant support
“I do encourage entrepreneurs to blog because I think rather than reading other people's blogging for yourself is actually, first of all, great therapy, and secondly, it brings people to understand how they might help you.”
Michael Skok Sep 21, 2016 ▶ 27:31 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Assertion Supported
Underscore VC's inaugural fund is backed by a $40B+ LP base
“The fund has been oversubscribed very quickly. We were able to select the VC, sorry, the LPs who really understood the model and wanted to get behind it. I'm happy to tell you that, you know, that's well over forty billion dollars worth of capital in the found…”
Michael Skok Sep 21, 2016 ▶ 9:52 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Assertion Supported
Michael Skok: Demandware raised $70M before going public
“I've invested in companies like Demandware, for example, which probably took about seventy million dollars worth of capital before we got it public.”
Michael Skok Sep 21, 2016 ▶ 11:54 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC
Disclosure
Skok: 11 Underscore community members co-invested in Mautic alongside the firm
“11 of them wrote personal checks alongside us, which made it very easy for us to, you know, write our check and commit to the thing.”
Michael Skok Sep 21, 2016 ▶ 29:10 20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Equal with Michael Skok, Founding Partner @ Underscore VC

The other half of the tape: Michael Skok's own voice is left out of every number here. Other people bring the name up 3 times in 1 episode on 20VC. every mention, with the transcript →

Who brings them up most Hunter Somerville 3

Every mention by year

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Appearances (1)

EpisodeDateSpeaking time
20VC: Why Valuation Is A Stupid Concept, VC Is Ripe For Disruption & Not All LPs Are Made Sep 21, 2016 22m
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