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  "documentTitle": "Samsara Inc. (IOT)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-09-21 00:00:00",
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      "kind": "callout",
      "text": "Doesn’t management have enough to do given Samsara’s rapid growth and new market entry efforts?",
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      "kind": "callout",
      "text": "Two fintechs?",
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      "text": "Samsara checked another box on the “believing your own hype” play card when it launched an internal venture capital fund, Samsara Ventures, in June 2023. We believe Samsara is one of the smallest revenue-scale companies to launch such an effort and that the effort is a waste of management time and corporate resources. Moreover, despite its “ecosystem” focus, early investments to date seem unrelated to its core offerings. In our opinion, this is just a punt by management to find upside for investors as its core business becomes further challenged.",
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      "text": "Samsara checked another box on the “believing your own hype” play card when it launched an internal venture capital fund, Samsara Ventures, in June 2023.",
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      "kind": "list",
      "text": "AtoB: Founded in 2019 and based in San Francisco, AtoB is a fintech startup offering a next-gen fuel card to help businesses control their fuel expenses and prevent fuel fraud.\nBluedot: Bluedot simplifies EV charging payment and expense management for EV drivers and fleets.\nHubble Network: Founded in 2021 and based in Seattle, WA, Hubble operates a satellite network that connects billions of Bluetooth devices worldwide and enables a variety of IoT use cases at a global scale, notably where internet connectivity is scarce or non-existent.\nPolymath Robotics: Founded in 2021 and based in San Francisco, California, Polymath Robotics developed an API that enables developers to quickly and seamlessly add autonomous navigation to any large industrial vehicle.",
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      "text": "Mentorship: Valuable insights from Samsara leadership who are invested in your success.",
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      "text": "That’s why we’re excited to announce Samsara Ventures, our initiative to deepen our commitment to innovation and partner with visionary companies that are building the future of physical operations. As the pioneer of the Connected Operations Cloud, Samsara has proven our unwavering commitment to helping physical operations companies succeed. Now, with Samsara Ventures, we can do even more to improve the safety, efficiency, and sustainability of the organizations who provide the mission-critical infrastructure that keeps the world running. In addition to capital, Samsara Ventures portfolio companies can benefit from three pillars that make up the core of the program:",
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      "kind": "source-note",
      "text": "Source: Samsara website",
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      "kind": "title",
      "text": "We Believe Samsara Ventures Is Yet Another Reason To Sell The Stock",
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      "kind": "title",
      "text": "Samsara Ventures: Nothing Better to Do With Its Cash?",
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