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Since the majority of VC returns come from a small number of deals, “obvious” investments seldom return such incredible multiples. They point out perceived market risks, they might question the management team’s experience, they might worry about regulatory risk or incumbent competitive powers. Startup Lessons'
Additional investors in the newest seed round and expanded credit facility include Village Global VC, Flexport Ventures, Tresalia Capital, 342 Capital, Struck Capital, Antler LLC, Antler Elevate, Florida Funders and Fox Ventures.
However, for capital intensive transportation companies, the rounds have gotten so huge and expensive that they often make little sense for early-stage funders to participate in (they get diluted down hugely). This is a fundamental confusion in the VC space — innovation does not always equal progress.
I’ve been involved with several startups where a giant incumbent attacks you and tries to sue you out of existence. I’ve known Jamie for years — he’s one of Los Angeles’ true innovators — so when we first heard he was starting Ring (then DoorBot) we were immediately interest and have been huge supporters (and funders) since his earliest days.
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