This Week in Startups E1073: The Power of Accelerators E8 Mike Jones, CEO of Science shares insights on what makes a great Direct-to-Consumer Founder, investing early in Dollar Shave Club, economics of a venture-studio & more!
Jun 10, 2020
Mike Jones, CEO of Science and a pioneer in tech startups, shares his journey from Userplane's sale to AOL to leading a venture studio. He discusses the evolution from startup studios to incubators and the economics behind venture-studios. Insights on the direct-to-consumer space, particularly how to identify great DTC founders, come to the forefront, highlighted by his investment in Dollar Shave Club. The conversation also touches on the lasting impacts of remote work and the necessity for founders to adapt through hardship.
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Early Days at AOL and Netscape Experiment
- Jason Calacanis and Mike Jones reminisce about their early careers at AOL.
- They discuss an experiment at Netscape where they paid top posters to moderate content, which improved user engagement.
Science's Startup Studio Model
- Science initially operated as a startup studio, acting as co-founders and investors.
- They worked with founders, building businesses from scratch and acquiring existing companies.
Limitations of the Startup Studio Model
- The startup studio model's limitations arose from consolidating early-stage companies within a non-traditional entity.
- Startups require a long path to liquidity, making the holding company structure unsuitable.