The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 25 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 2 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Burton: Lockstop Devices Generate $750 Annually From Data Monetization
“So each device generates about 750 dollars a year on its own.”
Burton: Lockstop Enforces a Strict $100,000 Minimum Check Size
“I absolutely hate to say this, especially on YouTube, but we've left the 50 K checks on the table, so we don't allow any investments under a hundred K.”
Burton: Physical Municipal Hardware Is Hard to Disrupt Once Installed
“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 …”
Burton: Lockstop expects to break even within 24 months
“In 24 months is when we expect to hit our break-even point, and so that 1.5 takes us all the way to that position where we're generating our own revenue and we're floating our own boat.”
Burton: Lockstop will lower hardware cost to ~$300 per device next year
“And we have another device that we're designing right now, an aluminum cast, that will take that cost and cut it By 70%, and so next year will be about 300 dollars a device.”
Mike Burton: Lockstop targets expansion to 291 cities in five years
“We're projecting in five years our goal is to hit 291 cities that have pretty developed infrastructure, or they have infrastructure that can develop pretty rapidly.”
Burton: Lockstop charges cities $750 upfront per device in year one
“Yeah, so year one, we charge cities 750, and then we scale up to 1200 per individual device as we get further along.”
Burton: Lockstop has gotten a yes from every door pitched
“We've not gone into one door that we haven't walked out with a yes.”
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…”
Burton: Recovered Stolen Bikes Lack Owner Identification
“Because a large majority of stolen bikes are recovered. They just have no way to associate them with an owner.”
Mike Burton: Lockstop projects $60 million in revenue in five years
“Five years what we're projecting right now is sixty million.”
Lockstop raises $50K angel check with $300K-$400K in sight
“So we've taken an additional 50 K and we have a line of sight from two separate investors right now, a 150 to 200 a piece.”
The Pitch Fund invests $50K in Lockstop at $5M cap
“We talked to Kara from the Parks and Rec Department in Rogers, Arkansas, and decided to invest 50,000 in lockstop at a five million dollar valuation cap.”
Burton: Lockstop gets two months of battery life on a self-contained unit
“This is entirely standalone. It has its own battery in there. We do GSM connectivity. All of that is self-contained in this device, and we use a lo-fi Bluetooth chip that allows us to get two months of battery right now, and we're adding a solar trickle charge…”
Burton: Lockstop's chain takes 65 seconds to cut through
“So it'll take us a 65 seconds to cut through the lock, or the chain, rather.”
Lockstop: Initial contracts cover 25 devices across two cities
“Right now the two cities that we're working with and will be installing is a hundred K, a hundred, 125 K right around that park. And then the individual contracts right now are for the 25 devices with the expectation of scale once the data proofs out.”
Jesse Middleton: Flybridge typically writes checks of $1M+
“We normally write million plus dollar checks. So I'm going to do the diligence on that check either way.”
Burton: Lockstop produces devices in Arkansas in eight weeks under $600
“So it takes us eight weeks to manufacture right now, but here's the fun thing, is it's small batch manufacturing in northwest Arkansas right now. So we small batch manufactured this device for under 600 dollars”
Lockstop Founder: Two Partners Secured and Two More Finalizing Deployments
“But for us in the last 90 days since we finished up our MVP, we've already secured two partners and then we have two others that are selecting their deployment dates and the locations for each one of these lock stops.”
Burton: Only half of bike thefts are reported and 5% returned
“Only half of bike thefts are actually reported. Because only five percent of those bikes were returned.”
Lockstop's CTO Is a Former Bike Cop Turned Data Scientist
“We actually landed a unicorn. He was a former bike cop that decided to ditch Law enforcement and go data scientists and machine learning.”
Phillips: 11 Tribes passes on hardware companies due to lack of specialty
“I think it boils down to hardware is not an area that we feel like we have a specialty, and it's a challenging thing for us to step in and support hardware business.”
Mike Burton: Lockstop raised $235,000 from friends and family after $55,000 in pitch wins
“During graduate school, we traveled on the pitch circuit, and we won some money. I think we were about 55 K. We did raise a small friends and family, so we had 235 K contributed by folks that had gone to grad school with us, or You know, others like that, and …”