Jack outlines how Silicon Valley Bank defines Hardware-as-a-Service and why SVB produces research on this business model, shares what the key lessons learned were and the macro trends identified in this 2nd edition of this research report, details how Hardware-as-a-Service investing stacks up against the broader VC deals and dollars dropoff (hint: VCs at the steed stage have increased investment over the last 2 years!), and finally shares “Metrics that Matter” that SVB identified as critical to building a successful and healthy business in this ecosystem.