// STARTUP COMPARISON
LaHaus vs Spotahome
LaHaus failed in 2022 due to Unit Economics. Spotahome failed in 2020 due to Bad Timing. Different causes, different sectors, different eras — but the same simulation outcome.
| METRIC | 🔥 LaHaus | 🔥 Spotahome |
|---|---|---|
| Sector | Proptech | Proptech |
| Country | Colombia | Spain |
| Founded | 2017 | 2014 |
| Died | 2022 | 2020 |
| Raised | $107M | $80M |
| Peak | $107M raised | $80M raised |
| Primary Cause | Unit Economics | Bad Timing |
// WHY EACH FAILED
🔥 LaHaus
Unit Economics
LaHaus built a technology-enabled real estate brokerage for Latin America, raising $107M and operating in Colombia and Mexico. In 2022 rising interest rates triggered a real estate market slowdown across the region, significantly reducing transaction volumes. LaHaus laid off 40% of its workforce in 2022 and retrenched to its core Colombian market, abandoning its multi-country expansion.
// LESSON
Real estate transaction businesses are highly correlated with mortgage rates. A 2x increase in rates can reduce transaction volume 40-60%. Build 18 months of reserves for a rate shock scenario before scaling headcount.
Real estate transaction businesses are highly correlated with mortgage rates. A 2x increase in rates can reduce transaction volume 40-60%. Build 18 months of reserves for a rate shock scenario before scaling headcount.
🔥 Spotahome
Bad Timing
Spotahome built a platform for mid-term furnished rentals (1-12 months) targeting international students, expats, and digital nomads — all users whose movement required open borders and urban migration. COVID eliminated all three customer segments simultaneously: no international students, no corporate expats, no digital nomads. The company laid off 50% of staff in April 2020, pivoted to domestic rentals, and significantly scaled down.
// LESSON
When all your customer segments depend on the same macro condition (free cross-border mobility), your diversified customer base is actually a concentrated risk. Spotahome had students, expats, and nomads — and lost all three at once.
When all your customer segments depend on the same macro condition (free cross-border mobility), your diversified customer base is actually a concentrated risk. Spotahome had students, expats, and nomads — and lost all three at once.
// EXPLORE FURTHER