So Close. Afterword.

Entrepreneurs don’t hide. It’s one reason they are special.

I wrote the “So Close” post to honor the team, entrepreneurship and the courage of startup teams to go for it. Creating a category defining product requires risk taking — often at very uncomfortable levels. I love that spirit.

I anticipated readers would bring a wide variety of perspectives. I didn’t write the post to deflect blame, fall on my sword, or even as an epitaph. As CEO, I know my role and the responsibility for the company rests with me. I own that. I made decisions every day, some solo, and many with the support of a very talented and empowered team.

I’ve spent time reflecting on those decisions. Hindsight would guide different decisions, but I have a strong opinion that it is the wrong framework to reflect and learn. If we operated such that we couldn’t trust anyone, or any business deal, we’d never get shit done. Several of our most important business partnerships were based on trust relationships. The “One Percent Doctrine”, which states that even a 1% chance of occurrence must be treated as a certainty, would be a terrible way to run a company. Risk assessment is far more practical. As a hardware company, we had more than our fair share of risk. Did we misestimate the risks we faced? Did we manage risk in a reasonable way? Our reflections focus on our risk awareness and risk mitigation.

I’ve received dozens of supportive calls and notes from CEOs and founders expressing their understanding and sharing their stories. Product leaders of hardware companies recognized the uniqueness of the Otto lock. Founders, who completed successful acquisitions, shared stories about running close to the edge and operating without a safety net. They privately shared how easily their outcome could have been very different. None of it erases the disappointment but the conversations were incredibly helpful and provided important context to the risks and challenges of a startup.

I shared my experience to honor my team and because I felt it might be useful to others. Especially because it was painful and imperfect and real. I hope other entrepreneurs understand this stuff is really hard, bad shit happens all the time and that others are watching, but you can’t play scared or freeze up. It may not work out as planned, but the outcome isn’t final unless you let it be.

But entrepreneurs get it. They really get it. They reached out to help, share, support, and problem solve. We learn and grow together. We pay forward. And for this, I am truly humbled and appreciative.