Burton: Physical Municipal Hardware Is Hard to Disrupt Once Installed
Mike Burton · Bike Theft is a $1B Crisis—Watch This Founder’s $1.5M VC Pitch · Mar 5, 2025 · at 32:05
Lockstop founder Mike Burton defends his smart bike lock hardware model to investors passing due to hardware risk.
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“Anything that's hard to do is hard to disrupt. And there's a lot of SaaS and AI going on in the market right now, and for us, it's like, once we have a hardware component there, it's very difficult to remove, just because the city doesn't want to have to make another decision.”
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Burton: Lockstop charges cities a one-time fee per device and provides monthly data
“So now we charge the cities, Because what we're able to do with the cities, Jesse, is they install these devices, and now they get access to those mobility insights that don't exist anywhere else. So we sell into the city, each individual device, we do a one-t…”