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In 2 days. AI Zoom conf. Register free: 1,800 regs and 40+ AI case studies that saved companies $10M+ and 35K+ hours

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Watch the full interview for insights on hiring, building unicorns, and running venture studios:

10. AI is transforming company creation at every stage. If you're not integrating AI into your business today, Science is not interested.

9. Founders must come from a passion and a very personal need they've experienced in their lives. Science seeks founders who "color outside the lines" and are wise enough to take advice from others – those who are stealers of other people's strategies, and they want to be thieves.

8. They look for 2-co-founder teams – one focused on vision, marketing, and product, and the other on operations, finance, and structure – to avoid burnout. They work with both 1st-time and 2nd-time founders.

7. Science often works with founders for up to 6 months before fully investing, allowing both parties to ensure a mutual "opt-in" to the long-term partnership, which can last longer than most marriages.

6. They typically invest "single-digit millions" at low valuations and can scale up to $80-100 million for major successes like Liquid Death. They invest only when customers actively “pull” the product rather than needing a hard push.

5. Science gets ~50 pitch decks per week — 2,500+ per year. Yet they invest in or build with only 6 companies annually — a 0.25% acceptance rate.

4. 2/3 of the companies they’ve partnered with came from external founders, while 1/3 originated in-house.

3. Sub-$1B exits can’t return the fund. They build culture-first, product-second consumer companies, meaning they tap into massive cultural movements (wellness rebellion ➝ Liquid Death, men’s grooming ➝ Dollar Shave Club).

2. Michael learned that even with a 15-person hands-on team that's epic at building companies, they couldn't turn everybody into an entrepreneur. Now, they only back founders who can “run the entire game” on their own. Studio support can’t replace founder DNA.

1. Originally a holding company, they pivoted to a traditional VC fund structure to attract LPs more easily (endowments, Family Offices, and FoFs). Complex tax codes and a lack of a scalable investor base made the holding model unviable.

– Dollar Shave Club – $1B all-cash exit to Unilever.– Liquid Death – $1.4B valuation at Series D in 2024.– DogVacay (Rover) – IPO, $2B market cap.– Bird – $2.3B SPAC valuation in 2021.

"If I end up with a company that's doing 12, 15 or $20M of revenue that we can't sell, that isn't throwing off a meaningful profit – it's basically a zero. In the venture world, you're either going for absolute bangers, absolute $1B+ exits, or you shouldn't be doing venture".

I spoke with Michael Jones, who, after selling MySpace, launched Science. Since 2011, they have launched/invested in 150 companies, with 46 exits, incl. several unicorns. 🧵.

We’ve gathered stats on investor registrations for our Zoom conference this Thursday–Friday (April 24–25): over 3,800 participants, with a breakdown in the image. For the first time, 110+ speakers — including those managing $1B+ in capital. RSVP free:

Registration statistics for our Capital Networking Virtual Conf on Apr 24-25, join:

For emerging venture studios, there are only 2 ways to raise from LPs:

Program of the virtual conf: