I think the early players in the space probably have/had a good argument for that question -- if you're Denver Mattress in 1998, or Keetsa in 2008, you could (p

I think the early players in the space probably have/had a good argument for that question -- if you're Denver Mattress in 1998, or Keetsa in 2008, you could (perhaps) plausibly claim that the fundamentals of the market had shifted, and make a convincing speculative argument that you could take over a largish industry. But the rise of five new mattress startups in the last few years? That's just sloppy, herd behavior. Investors are piling into whatever sector seems hot, without doing even the most cursory analysis of the existing players. Why should the 7th startup in this vertical be seen as compelling? Is it because they have bike messengers?