Ol' Skool Company is the eighth track on Prince's 34th studio album MPLSound. Following in a tradition of songs like Push and Newpower Soul, Ol' Skool Company contains a rap that features most song titles from the album in order (although it does not mention No More Candy 4 U, but does include 77 Beverly Park, indicating that the tracklist may have changed after the track was recorded).
Recording dates and studio are unknown, but it is likely that the track was recorded in 2008 - early 2009 at either Paisley Park Studios in Chanhassen, Minnesota or 77 Beverly Park Ln. in Beverly Hills, California.
At one point in the song's lyrics, Prince names many of his past drummers. "Songs we used 2 sing used 2 mean something / Now they just bland like the drummer / Where's the real drummer? / Michael B., Mint Condition, Morris Day, Jellybean wishin', Sheila E. and brother John / and sometimes me, 'til the dawn." The inclusion of Mint Condition is unusual since Prince had not been known to have worked with the band or drummer Stokley Williams (other than in a background vocal role on Call My Name). Also notable is the omission of Bobby Z. (drummer for Prince's most famous band, The Revolution), Kirk Johnson (New Power Generation drummer and Prince's best man in his wedding to Mayte Garcia), and Cora Coleman-Dunham (his then-current drummer who played on the track during its regular live performances).