This “I define startups as companies that don’t have control of their own destiny because they rely on investor cash infusions to operate.” is false. And it’s dangerous to keep pounding this kind of stuff in other entrepreneur’s minds. A company (and therefore a startup) is suppose to make money. Period. https://goo.gl/MCWd2W
$699 for a smart lock ? Really ? Why would someone, anyone, pay this amount of money for a lock ?
I get that you were blindsided by the other company but it’s your responsibility as a CEO, and nobody else's, to be aware of the eventuality that led you to this conclusion.
And here’s the final proof of your lies : https://puu.sh/ySjFn/5748a61e91.png