Very interesting. I love to hear the other side of it though, because it feels perhaps self-serving. E.g., he seems to imply the potential acquirer unexpectedl

Very interesting. I love to hear the other side of it though, because it feels perhaps self-serving. E.g., he seems to imply the potential acquirer unexpectedly screwed them over, but no deal is done until it’s done, and this one did not really seem like it was that close. There’s no reason for Otto to agree to an acquisition process that prevents them from raising money they desperately need if they had any reasonable prospects. As he said, they were not actually looking for acquisition. So it seems like this was a last gasp effort to stay afloat in some form, which ultimately failed (as previous efforts had). One reason an acquisition might be looking good before due diligence and fall apart after is because things turn out to be significantly less rosey than initially presented. When you’re looking to make a deal of course you’re going to accentuate your positives but you have to acknowledge and address your problems as well or you’re simply wasting everyone’s time. I suspect the fundamental problem is that a $700 smart door lock is a very difficult sell, especially with all the competition out there.