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So Close

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Re: So Close

#11

Can someone fix the title? it's click bait. There's no way to tell what the article is about without clicking on it. At least mention the company. (Good article though.)

Originally it did, I guess it got moderated to the actual title of the article, as per rules?

Re: So Close

#13
post #7

Can someone fix the title? it's click bait. There's no way to tell what the article is about without clicking on it. At least mention the company. (Good article though.)

It's the title of the article though, seems fine to me.

No, it is not fine. I know it is standard practice on HN but I really don't like it at all.

Just imagine every submitted article had a title like this: the HN frontpage would be full of links like "so close", "a look back", "introducing our most important features yet", "a statement regarding the events last weeks"...

HN would completely unusable like this because you would have to click on every single link to figure out what it is about.

Re: So Close

#15
I just couldn't understand it all, how could a CEO decide to sell his startup without any plan for the interim period, at least let the production can continue in that time and several months afterwards?

Re: So Close

#16
post #6

Ouch. A sadly common outcome of talking to corp dev. http://paulgraham.com/corpdev.html Agreeing to no-fundraising and exclusivity clauses during a long due diligence process really puts your head in their vise. And once it's there, people within the acquirer will start saying, Hey, we could built this ourselves! Let's run the clock out and kill the competition.

Maybe. But I'd like to see the other side of the story, including why a public company wanted to purchase a startup making a smart lock that cost $699 that hadn't even hit the market yet. Maybe the potential acquirer decided it wasn't a competitive product, and decided to back out.

Re: So Close

#17

If I understand the sequence of events properly, the company entered acquisition negotiations and agreed not to solicit other bids during that time. When the acquisition fell apart, the company was out of money and had to stop operations. If that's correct, it seems to me like it's something they should have known in advance -- if they knew they would be out of money by the end of the year, why would they enter acqui…

Thank you for pointing this out. For those reading, an archive now exists https://archive.fo/CJF9r

the original comment is at https://medium.com/@ben_73928/as-one-of-the-team-members-let...

Re: So Close

#18

If I understand the sequence of events properly, the company entered acquisition negotiations and agreed not to solicit other bids during that time. When the acquisition fell apart, the company was out of money and had to stop operations. If that's correct, it seems to me like it's something they should have known in advance -- if they knew they would be out of money by the end of the year, why would they enter acqui…

people only get backed into corners (i.e., exclusivity, compelled actions, or some kind of limitation on funding, bad pricing) when they're desperate.

protip: never be desperate.

easier said than done, sort of like "eliminate refined carbs from your diet" or "save enough for retirement" or "stop looking for love in all the wrong places"

Re: So Close

#19
post #14

Is (was?) there something more to this product that I missed, or is it really a $700 smart lock?

It doesn't even have a proximity sensor -- you have to touch it to make it work. Might as well stick a key in at the same time. If I paid that kind of money I would expect my door to unlock for me when I approached it.

It also has no manual override with a key like some smart locks -- it just has some backup batteries that last an unspecified amount of time. Because it has no key, it can't be re-keyed, so good luck convincing a landlord to let you install it in an apartment or rental home. And the company says it needs to be professionally installed.

I bet the owners of these things would spend more time thinking about and solving problems with them than most people spend operating their normal deadbolts with a key.

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