Jason and Will are joined by Luke Schoenfelder, CEO of Latch, to discuss the role of Latch, and how they found innovations in something as seemingly unimportant as—locks. Luke breaks down the origin of Latch and their innovative eye for how to revolutionize a common household item. Luke and his team started with taking a look at the next steps for infrastructure, and they ended with Latch. Tune in for the full story!
Luke’s upbringing in Pennsylvania set him up for a non-linear path to Latch. He has worked in a range of companies and areas of expertise, from modular housing in Haiti, to time spent at Apple. He discusses the origins of building out his team at Latch and their inspiration to focus on the hospitality industry. By going straight to the customer Latch brought in a business model innovation that set them apart, one of many that align with Latch’s vision.
In this episode, we cover:
- Reflections on the Episode (0:50)
- Introduction to Luke (1:41)
- Latch’s Innovations (11:13)
- Manufacturing a Complex Product (16:52)
- Latch’s Lock’s Lifespan (21:28)
- The Experience of the Tenant (26:44)
- Latch’s Next Steps and Expected Complexities (29:44)
- Latch Lens (37:32)
- How Latch Makes Money (43:12)
- The Future (46:15)
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