Evaluating only ProptechPR2’s profile at its peak — without knowing the outcome — the model ranked Macro / political as the #1 likely cause. Documented cause: External shock.
Key Events Timeline
FOUNDING
CRISIS
SHUTDOWN
Full Analysis
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Documented cause
ProptechPR2 built Puerto Rico proptech. Act 22/60 reform reduced buyers. Fiona $3B+ damage September 2022. PREPA bankruptcy. Fed rates hit mortgages. Second sequential failure.
Lesson
“Puerto Rico proptech must specialize in the PREPA outage-resilient property segment (off-grid properties with solar + battery) — 30,000+ PR properties have gone off-grid since Hurricane Maria, creating a specialized property management market that standard proptech doesn't serve.”
Failure anatomy
Collapse type
Slow Death
🐌 LOW
Hype cycle
None
Moat type
Technology
Fatal mistake
Puerto Rico proptech second attempt: Act 22/60 reform (2021) reduced tax incentive availability, reducing mainland US buyer volume. Hurricane Fiona September 2022 caused $3B+ in damage and disrupted property market for 6 months. PREPA (Electric Power Authority) bankruptcy continued. Interest rate increases (Fed) hit PR mortgage market. Zillow dominated listing discovery for Act 22/60 buyers.