The PropTech market has exploded. According to the Center for Real Estate Technology & Innovation, investments in PropTech hit $32B in 2021. There has been cooling in this market over the past few months, but capital is still being deployed at a dizzying pace. With so much money flooding into the industry, there are many flashy startups driving really innovative solutions to the market. As I attend innovation conferences and learn about new companies, I am amazed at the speed that new technology is being developed. As a fan of new technology and as a member of the PropTech community, all of this new innovation is really exciting. At the same time, early stage startups present a real risk which is too important to ignore. Most of the conversations around the risks that accompany startups are tied to the VCs that are placing bets, but the other parties with significant exposure are the early adopters.