LA Venture: Free Advice From The CEO Who Turned MySpace Around

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.

This week on the L.A. Venture podcast, hear from Mike Jones, the founder and CEO of studio and venture firm Science Inc. Jones is considered an expert on scaling and robust business strategy. He runs Science Inc. with Peter Pham, Greg Gilman and Tom Dare.


Starting in the late 90s, Jones began creating and managing his own businesses. He created UserPlane, an instant messaging service that was acquired by AOL early in his career. Following that, he was the turnaround CEO of MySpace— helping the company navigate losing its legacy status — and has invested in a number of notable brands, including GoodReads, Maker Studios Inc., HelloSociety and DogVacay.

Science is often considered an incubator. It was also the first investor in Dollar Shave Club and has also helped scale Mammoth Media, Arrive Outdoors, pray.com, Liquid Death and PlayVS. Jones has also been named one of the most influential people in Los Angeles.

Science has a venture funding studio, a blockchain fund and a late-stage SPAC. The company is best known for its venture arm, which is investing out of its $100 million Fund III.

Jones also works with these companies as an advisor. He says it's important to him that the founders he invests in are willing to learn and be highly adaptable to new strategies.

His background at MySpace, he says, gives him a unique perspective on the future of social media. He says he has respect for Snap founder Evan Spiegel, but adds he thinks social media needs to be more empathetic.

"in a world where when you and I meet up in person, we have millions of micro expressions on how we're communicating with each other," he says, "like pheromones, and all the other components that go into two people standing next to each other and actually having a conversation. We have to rebuild that digitally."

This is why he argues that founders' intent and message are so important.

"The thesis of an authentic brand is 'I make this product because I believe it's the right thing to do. And it has a purpose'," he says, beyond profit.

Mike offers his insights on investing, the 2020 ecommerce boom, the future of NFTs and his passion for cyrptocurrency.

"One thing that's 100% true is I've never seen retention correct itself. If you need to change retention substantially, you need to make substantial changes to the business." — Mike Jones

dot.LA Engagement Intern Colleen Tufts contributed to this post.

Want to hear more of L.A. Venture? Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

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Hollywood Crews, Studios Reach Tentative Deal to Avoid a Strike

Harrison Weber

Do you know something we should know about L.A. tech or venture capital? Reach out securely via Signal: +1 917 434 4978.

Harrison is dot.LA's senior finance reporter. They previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find them on Twitter: @harrisonweber. Send tips on L.A. deals to harrison@dot.la. Pronouns: they/them.

It appears the show will go on.

The union representing Hollywood production crews announced it has struck a tentative deal with the alliance representing major studios and giants in tech.

The move averts what would have been the first walkout for Hollywood crews since World War II as well as the union's first national strike since it was formed more than a century ago. However, union members must still decide on whether to ratify the agreement in an upcoming vote. In the meantime, all work will "continue without interruption," the union said.

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Q&A: Bobacino CEO Darian Ahler Makes His Case for Food Automation

Decerry Donato
Decerry Donato is an editorial intern at dot.LA. She received her bachelor’s degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, Decerry can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

After a year and a half of the pandemic, the robots have arrived—at least in restaurants.

A new report from market research firm Global Industry Analysts (GIA) found that the global food automation market grew to $9.7 billion in 2020, spurred in part by a desire to offer customers contactless service. The GIA researchers projected the market would swell to $13.6 billion by 2026.

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Like Etsy but for Latinas, Shop Latinx Raises a Pre-Seed Round

Decerry Donato
Decerry Donato is an editorial intern at dot.LA. She received her bachelor’s degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, Decerry can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

The beauty and fashion industry isn't as skinny and white as it once was. Makeup for darker skin tones are more widely available, shapes are changing and so are perceptions. This year, Leyna Bloom graced the cover of Sports Illustrated. She's a trans woman of color. But sometimes, it can all feel a bit inauthentic.

That's how Brittany Chavez, a 30-year-old whose parents hailed from Nicaragua and Guatemala felt when she founded Shop Latinx. Her lifestyle and makeup ecommerce site debuted last October as home for Latinx and BIPOC (Black, Indigenous, and People of Color) brands
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