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Mark Chung

Co-founder & CEO, Verdigris · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutiveengineer@mychung ↗LinkedIn ↗verdigris.co ↗

Mark Chung co-founded Verdigris in 2011 to monitor building electrical consumption and reduce carbon emissions using AI-driven telemetry and smart sensors. Before founding Verdigris, he spent over two decades as a principal engineer designing microprocessors and semiconductor systems at tech companies including AMD, P.A. Semi, and NetLogic Microsystems.

10statements → 5claims → 1claims resolved → 3.8/5average certainty → 1.3/5average debate potential → 5said about them ↓

1 supported 0 partly supported 0 contradicted 4 not checkable as stated how the 5 claims stand · each chip opens the sources

5 assertions · 2 insights · 3 disclosures · every statement was checked. The predictions and assertions are the 5 claims: statements the public record can support or contradict. 1 is resolved, and 4 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 Mark 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
Jabil claims Verdigris reduced its operational costs by 50 percent
“And in fact, they've come out and said that we've saved about 50% of their operational costs through using our solution.”
Mark Chung Aug 14, 2017 ▶ 3:01 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Mark Chung on measured tape to publish a rate. This says nothing about how they speak.

Everything Mark Chung said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Disclosure
Verdigris treats its hardware as a loss leader for SaaS revenue
“We don't make money on the hardware.”
Mark Chung Aug 14, 2017 ▶ 5:39 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Insight
Chung argues hardware-enabled SaaS products have significantly lower customer churn
“Well, the beauty of what we do is because we have a hardware component that enables the SAS, it becomes a very sticky SAS-like product. So while there is a loss leader or basically a static component that's kind of a wash that enables a much, you can think of …”
Mark Chung Aug 14, 2017 ▶ 7:08 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Assertion Not checkable as stated
Verdigris reports having essentially zero gross customer churn
“It's essentially zero today.”
Mark Chung Aug 14, 2017 ▶ 13:24 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Assertion Supported
Jabil claims Verdigris reduced its operational costs by 50 percent
“And in fact, they've come out and said that we've saved about 50% of their operational costs through using our solution.”
Mark Chung Aug 14, 2017 ▶ 3:01 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Disclosure
Verdigris has raised approximately $16 million in venture funding
“Today, about sixteen million.”
Mark Chung Aug 14, 2017 ▶ 5:54 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Disclosure
Verdigris plans a residential product under $10 per month via utilities
“We do intend to roll out a plan probably in partnership with the utility in the next few years that would allow us to Put this in people's homes for, you know, hopefully under 10 dollars a month or something at an acceptable cost.”
Mark Chung Aug 14, 2017 ▶ 11:35 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Insight
Verdigris targets enterprise customers spending at least $10,000 monthly on electricity
“General rule of thumb is that we look for people who've spent, spend about 10,000 dollars a month on electricity.”
Mark Chung Aug 14, 2017 ▶ 14:43 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Assertion Not checkable as stated
Verizon leverages 900 enterprise sales reps to pitch Verdigris IoT solutions
“So Verizon, because we are a Verizon preferred partner they have a sales team of about 900 people that are out in the field talking to their Fortune 500, Fortune 2000 customers selling ranges of IOT solutions from video surveillance to telematics to energy man…”
Mark Chung Aug 14, 2017 ▶ 16:55 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Assertion Not checkable as stated
Verdigris has deployed approximately 300 hub devices
“Yeah, about 300 today.”
Mark Chung Aug 14, 2017 ▶ 9:14 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue
Assertion Not checkable as stated
Verdigris maintains a 90 percent engineering ratio on its 30-person team
“It's about 90% engineering.”
Mark Chung Aug 14, 2017 ▶ 15:04 751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue

The other half of the tape: Mark Chung's own voice is left out of every number here. Other people bring the name up 5 times in 1 episode on Top Founders. every mention, with the transcript →

Who brings them up most Nathan Latka 5

Every mention by year

tap a year for its mentions
0031512017episodesmentions
0112017episodes it came up in
002.50.5512017episodesmentions per episode
2017 5 mentions in 1 episode

Appearances (1)

EpisodeDateSpeaking time
751: IoT Electricity Measuring King Raises $16m w/ $1.2 Million Revenue Aug 14, 2017 10m
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