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So Close

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Re: So Close

#71

Post by solarkraft »

nkkollaw wrote: post #38
twblalock wrote: post #19

Earlier quoted context omitted.

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 c…

It's so awesome when people create problems to fix non-problems. I never once thought my life would be better if I didn't need to put up with those nasty keys...

I think that all the time. I'd like something like this at home because it's a minor convenience benefit (and cool) and at a shared space because it'd be a major convenience benefit (and cool).

Re: So Close

#72

Post by solarkraft »

mikeash wrote: post #57
coldtea wrote: post #50

Earlier quoted context omitted.

In the same sense of "is there anything to this SUV that I missed, or is it really a $70K car?". Quality and reliability matter, and not all locks are made the same. If a run-of-the-mill smart lock goes for $200, and if you can even buy lightbulb systems that go for the same or more, it's not really difficult to imagine a $700 smart lock if it's advanced enough. Especially since most of those $200 smart locks are usu…

That’s why I asked a question instead of just saying the price was dumb. Did I, in fact, miss some aspect of this thing that makes it worth $700? If so I’d like to know specifics, not guesses. I’m not assuming anything, I’m wondering what makes it so much more expensive than other products in this space, since the article (and the “Introdicing Otto” article I also found) don’t explain it at all.

Expensive cars aren't usually worth their prices either. Maybe they tried to pull a similar thing.

Re: So Close

#73

Post by [deleted] »

lobster_johnson wrote: post #60
nkkollaw wrote: post #38

Earlier quoted context omitted.

It's so awesome when people create problems to fix non-problems. I never once thought my life would be better if I didn't need to put up with those nasty keys...

There are many cases where a virtual lock beats a physical one. Most of them involve scenarios where the main occupant is absent, but needs to give access remotely; for example, let's say I went on vacation, then realized I left one of the windows of my apartment open. Not everyone has access to trustworthy people (friendly neighbours, friends, relatives, colleagues) who are also guaranteed to be around and willing t…

[deleted]

Re: So Close

#75

Post by goatherders »

Lots of people making the points that occurred to me so I'll avoid repeating those. But does anyone have any insight into what data (if any) supported a $700 device that no one seems to have asked for?

Re: So Close

#76

Post by bringtheaction »

tlb wrote: 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.

Well actually

> If you're doing really badly, meaning the company is about to die, you may as well talk to them, because you have nothing to lose.

Re: So Close

#77

Post by zemvpferreira »

coldtea wrote: post #44
ricardobeat wrote: post #26

Earlier quoted context omitted.

Those were exactly my thoughts upon reading it. “Four weeks from generating revenue” and then sudden death because of a failed acquisition sounds like awful planning for a well-funded startup. Also, it’s a damn internet-connected door lock with Bluetooth. Do you really need $45M and designing new mechanical systems from scratch to make it work? I’m sure their team did amazing work but all of it sounds incredibly head…

> Also, it’s a damn internet-connected door lock with Bluetooth. Do you really need $45M and designing new mechanical systems from scratch to make it work? If you don't intend on making just a "damn internet-connected door lock with Bluetooth", of which there are many, but a great one, then very possibly yes.

Many great hardware products and companies have been built on budgets a fraction of $45M. Even the Apple 1 was an ugly hodge-podge of parts. If you want to build pyramids, it's best figure out how to build sand castles before.

Re: So Close

#78

Post by nkkollaw »

lobster_johnson wrote: post #60
nkkollaw wrote: post #38

Earlier quoted context omitted.

It's so awesome when people create problems to fix non-problems. I never once thought my life would be better if I didn't need to put up with those nasty keys...

There are many cases where a virtual lock beats a physical one. Most of them involve scenarios where the main occupant is absent, but needs to give access remotely; for example, let's say I went on vacation, then realized I left one of the windows of my apartment open. Not everyone has access to trustworthy people (friendly neighbours, friends, relatives, colleagues) who are also guaranteed to be around and willing t…

Sure, but is that actually an actual problem? I and my mom while I was little have given keys to the house to maids and similar and nothing ever happened in 40 years. I know most people do the same.

I would be more afraid of actual problems like a malfunction of some kind (no battery, money in the house so that I can't buy batteries, etc. etc.), and I can't enter the house. Or, I lock myself out and no one can open that door (while regular locks can be opened by specialized companies).

Re: So Close

#79

Post by nkkollaw »

greenleafjacob wrote: post #42
nkkollaw wrote: post #38

Earlier quoted context omitted.

It's so awesome when people create problems to fix non-problems. I never once thought my life would be better if I didn't need to put up with those nasty keys...

Never locked yourself out?

Sure, but what if the thing breaks or the batteries run out and similar?

Re: So Close

#80

Post by zemvpferreira »

wellboy wrote: post #43

> While a tedious process, we built a close working relationship and shared their enthusiasm about our future together. On December 11th, they called me and stated they would not complete the acquisition nor revisit the investment proposal. I was stunned. The reason is still not understood. That's the problem if your CEO is an inventor with no or little business acumen. They are always super-enthusiastic and can be p…

However, this article was written by an experienced executive who had raised a $45M seed round for the company. Lack of business acumen or paper-thin attempt to excuse himself of this ridiculous failure? You be the judge.
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