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The pandemic hasn’t slowed down dating app S’More — at least according to CEO Adam Cohen-Aslatei, who said that the app’s daily active user count doubled in March and hasn’t gone down since.
“When people are working form home, they have much more time to dedicate to their relationships,” Cohen-Aslatei told me.
The app (whose name is short for “something more”) launched last fall and has supposedly attracted nearly 50,000 users. The goal is to move beyond the superficiality of most dating apps, where you first learn about another user and then unlock visual elements (like a profile photo) as you interact.
Cohen-Aslatei said the team has also spent more on marketing to attract a diverse audience, both in terms of racial diversity (something S’more reinforces by not allowing users to filter by race) and sexual orientation, with 15% of users identifying as LGBTQ.
Of course, dating someone new can be challenging when meeting up in-person poses real health risks, but Cohen-Aslatei said S’More users have gotten creative, like remote dinners where they order each other takeout from their favorite restaurants. And now that things are reopening (though some of those reopenings are getting pulled back), users are asking, “How do we transition these virtual relationships into IRL?”
Image Credits: S’More
To give users more ways to interact, the S’More team recently launched a video calling feature. But Cohen-Aslatei noted, “We had to to create it in a way that was really fitting for our app … Women actually don’t want to see a guy right away, when you don’t know if they’re a creep.”
So in S’more’s video calling, the video is blurred for the first two minutes, which means you’ve got to actually start an interesting conversation before you can see who you’re talking to, and before they see you (a concept that may be familiar to viewers of Netflix’s dating show “Love is Blind”).
S’More has also expanded geographically, launching last week in Los Angeles (it was already available in Boston, Washington, D.C., New York and Chicago). And it recently started its a video series of its own on Instagram’s IGTV — the S’More Live Happy Hour, where celebrities offer dating advice.
“There’s this negative history of dating apps perpetuating negative online behaviors, fake images, catfishers,” Cohen-Aslatei said. “But now we’re going into a new era of authenticity, where we’re going from super vain to super authentic. S’more is one of those apps that’s going to lead you in that direction.”
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Any disaster will have its harshest repercussions on people who were already marginalized. It’s unsurprising, then, that when it comes to jobs and businesses, the COVID-19 lockdown is impacting women and ethnic minorities more than anyone else.
In April, unemployment shot up to 15.5% among women, 2.5% higher than for men. The rate was also higher among African Americans and Latinx people than for white people, with Latinx reaching a record 18.9% unemployment.
Women, especially from more disadvantaged backgrounds, are going to be taking the lion’s share of caregiving responsibilities at home during the pandemic, making them more vulnerable to job cuts. At the same time, underrepresented employees in general may feel more marginalized than ever as job security is put on the line.
It’s been hard to get to where we are on diversity and inclusion. Slowly but surely, diversity and inclusion have become a highly visible element of any company. But as COVID-19 turned up the pressure for businesses around the world, that progress came under threat as D&I initiatives took a back seat. The killing of George Floyd and the subsequent protests reignited D&I efforts in magnitude, but how can we ensure that, as time passes, those efforts are maintained with energy and determination?
This may be the shock to the system that will make business leaders realize that diversity is not an accessory or PR stunt — it is an integral part of the daily lives of each and every member of your team. Today’s consumers and your co-workers demand socially conscious companies, which is why D&I is vital to making any startup a well-rounded business. It’s also imperative for supporting economic recovery on a larger scale. Forgetting to preserve and improve D&I as we battle through COVID-19 will not only set us back years in terms of equality, it will worsen our collective chances of getting through this turbulence unscathed.
It’s understandable that most startups today will be in survival mode. But D&I cannot be cast aside as a nonessential part of your business. It’s quite the opposite. More diversity is a known indicator for better economic performance and improves a business’ chances of thriving through a recession.
We often hear about how diversity means more innovation in a company. Consider just how important this is today. Facing a crisis with no precedent, weighing up a variety of insights and solutions is vital to finding an intelligent lockdown strategy. As business leaders, we need to know what the world around us looks like right now, and that means knowing what people of all backgrounds are experiencing.
We also can’t afford to not take into consideration the long-term effects of today’s actions. Survival can’t mean usurping what your company stands for. If you sacrifice diversity now, you might retain employees for the time being, because they’re scared of being jobless. But you will have undermined the trust that your workers place in you and you will be sure to lose them far more easily once the situation eases. This is very true for customers too — the crisis is driving the public to support purpose-driven and diverse businesses more than ever, and you will be left out if you don’t meet those values.
So how can a startup keep diversity a priority in this strange new world? Sure, you may not be hiring, but that’s not the only way to improve diversity. Take this time to revisit your internal culture. The virus is forcing us to see our business from different angles — we’re looking into the homes of our co-workers, hearing about the personal issues affecting their work lives and about the work issues affecting their personal lives. Let’s make sure your company culture is not part of the problem.
You need to be accessible. Are some of your employees scared to speak up about their issues? Is there a big morale problem that you haven’t been able to alleviate? If so, then you need to work on making your workspace more inclusive, open and friendly. This is more than building up team spirit with morning coffee Zoom get-togethers and after-work networking. It’s about weeding out any systems that bring repercussions to people who voice their concerns; it’s about encouraging them to do so; it’s about recognizing every member of a team and every person in a meeting, not just the executives present.
The lockdown has shown that many people can work remotely, effectively. Can you use this in future to give employees a greater chance of success — perhaps those who live far from the office, or who have children or elderly relatives to care for? Many HR departments are probably focusing efforts away from hiring at the moment and could instead be put in charge of employee success, which means identifying and addressing the unique concerns of each of your staff (you might even consider assigning a full-time staff member to this role).
This is key to making your company a welcoming place for underrepresented employees who are often more wary of their circumstances than their co-workers, both now and in the future. It will help them grow and want to stay in the company, as well as attract a more diverse employee pool in the future.
In case you are hiring, there are innovative solutions to help you attract more diverse applicants to your company. Joonko’s technology integrates to your applicant tracking system to boost the visibility of underrepresented potential hires. Pitch.Me aims to tackle bias by presenting candidate profiles anonymously, including only relevant information about experience and skills but with no information regarding gender, age or ethnic background. Services like DiTal help tech businesses connect with potential employees from diverse backgrounds.
Before COVID-19, the key performance indicators for your business might have been the number of sales per rep, or the number of leads generated in a week. Those quotas are now unrealistic, and more importantly, they’ll be tougher to reach for employees with less time on their hands. That means people with more caregiving responsibilities — often women — or with less disposable income, and statistics show that people from ethnic minorities are more likely to be affected by the virus.
You have to create a work environment in which people with less time and resources can still achieve their professional goals. We typically hear that 80% of the most valuable work takes up 20% of a team’s time; well, let’s make sure your staff is focusing most of their efforts on that 20% of valuable energy. Build a new business plan that reassesses what the company needs to achieve in the near future, and set new metrics that hyperfocus on that bottom line. Think about how important it is to each of your co-workers’ morale to be able to meet their goals day in day out, despite today’s challenges. Furthermore, being adaptable for the benefit of your staff is an admirable quality that will not easily be forgotten.
An important note — helping everyone reach success means giving everyone the resources to do so. No one in your company should be unequipped to this “new normal,” which means good laptops or devices and speedy internet. Don’t hesitate to invest in people who need it.
Career development is vital for underrepresented employees, for whom upward mobility is always harder. People from minority backgrounds tend to have less robust business networks, exactly because they are the minority in the business world. We can never stop fighting this vicious cycle.
So take a look at your team and think about who you can help ascend in their career. Prioritize underrepresented people now because they are more likely to get hit harder by the lockdown and have a tougher recovery. Even if you don’t see it from an altruistic perspective, including underrepresented employees in your leadership now will lead to better economic local recovery and improved outcomes for your company.
One option is sponsorship programs in which you or other senior leaders advocate on behalf of selected employees (as well as acting as their mentors). Think of it as equally distributing the networks and influence accumulated by business leaders among a more diverse pool of people.
We’ve looked inward, now let’s look outward. How can you change how your industry looks, even in times of crisis. To reach the huge visible changes we’ve seen in, for example, branding in the fashion industry, took influential people making decisions at powerful tables. But it would be ironically easy to see things regress to a more heterogeneous state.
Stopping this from happening means making those big decisions yourself, and uniting others in joining you. Leverage your brand and bring your internal diversity to the forefront of everything you do — the mentors who give their time to startup organizations, the speakers you put forward for online events. Make a conscious push for your external marketing to display as much diversity as possible, especially amid fears that the advertising space will compromise its diversity standards in response to COVID-19.
If you have the resources, help struggling founders get through the lockdown. There may be small or mid-sized women or minority-led companies within your community that need your support. If you’re sending employees care packages and gifts, make the extra effort to source them from underrepresented local businesses. It’s not hard to do — there are organizations that can help you connect to such companies around the United States, such as Women Owned’s business directory and Help Main Street.
Large companies can work with Hello Alice to directly fund smaller companies founded by every underrepresented group in the United States, from veterans to LGBTQ+. IFundWomen is a large network of women-founded businesses you can choose to fund — or join — and it has a wing specifically for businesses owned by women of color. As a business leader you can always be seeking out diverse founders to collaborate with; For example, check out this amazing list of Latinx founders catering to the United States’ enormous Latinx markets, as well as finding solutions to improve diversity in business.
The NAACP has fought for equal rights for people of color for over a century. You can support them and their ongoing work, which ranges from campaigning for crucial reforms to spotlighting emerging Black-owned businesses.
Now’s not the time to slack on diversity. As tempting as it might be to think of it as an accessory, it’s just as vital now for your business to get through the pandemic and to stop your entire industry from losing decades of hard-earned progress in building a more equal society.
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Despite today’s bucket of plus-and-minus economic data, stocks are heading higher in regular trading. And among the shares rising the most are today’s two venture-backed IPOs: Lemonade and Accolade.
TechCrunch wrote this morning that the firms’ aggressive IPO pricing arcs boded well for the IPO market itself, that investors were willing to price growth-y shares of unprofitable companies with vigor, which could help other companies looking at the public markets get off the sidelines.
Then the two companies opened sharply higher, and at the current moment stand as follows (Data via Yahoo Finance):
Yep those are big numbers.
Expect the regular round of complaints that the firms were mispriced (maybe) and could have charged more from their equity in their public debuts (again, maybe). But for the two companies, it’s still a lovely day. Pricing above range and then seeing public investors frantically bid your equity higher is much better than the alternatives.
How the companies will fare when they report earnings (Q3 is upon us, making Q2’s earnings cycle just around the bend) will help settle their real valuations. But, for today at least, Lemonade and Accolade have done their yet-private brethren a solid by going up and not down.
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It’s the summer of 1858. London. The River Thames is overflowing with the smell of human and industrial waste. The exceptionally hot summer months have exacerbated the problem. But this did not just happen overnight. Failure to upkeep an aging sewer system and a growing population that used it contributed to a powder keg of effluent, bringing about cholera outbreaks and shrouding the city in a smell that would not go away.
To this day, Londoners still speak of the Great Stink. Recurring cholera infections led to the dawn of the field of epidemiology, a subject in which we have all recently become amateur enthusiasts.
Fast forward to 2020 and you’ll see that modern software pipelines face a similar “Great Stink” due, in no small part, to the vast adoption of continuous integration (CI), the practice of merging all developers’ working copies into a shared mainline several times a day, and continuous delivery (CD), the ability to get changes of all types — including new features, configuration changes, bug fixes and experiments — into production, or into the hands of users, safely and quickly in a sustainable way.
While contemporary software failures won’t spread disease or emit the rancid smells of the past, they certainly reek of devastation, rendering billions of dollars lost and millions of developer hours wasted each year.
This kind of waste is antithetical to the intent of CI/CD. Everyone is employing CI/CD to accelerate software delivery; yet the ever-growing backlog of intermittent and sporadic test failures is doing the exact opposite. It’s become a growing sludge that is constantly being fed with failures faster than can be resolved. This backlog must be cleared to get CI/CD pipelines back to their full capabilities.
What value is there in a system that, in an effort to accelerate software delivery, knowingly leaves a backlog of bugs that does the exact opposite? We did not arrive at these practices by accident, and its practitioners are neither lazy nor incompetent so; how did we get here and what can we do to temper modern software development’s Great Stink?
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Jennifer Doudna, a woman whose work has triggered the explosion in innovation in the field of synthetic biology and has given researchers around the world a way to program and reprogram the living world, will be speaking at Disrupt in September.
From her positions as the Chancellor’s Chair Professor in the University of California, Berkeley’s Chemistry and Molecular and Cell Biology Departments and a senior investigator at the Gladstone Institutes and professor at the University of California, San Francisco, Doudna has been at the forefront of research into CRISPR gene editing technology.
It was only eight years ago that Doudna and Emmanuelle Charpentier first proposed that CRISPR-Cas9 enzymes (which direct immune responses in microbes) could be used to edit genomes. That discovery would prove to be one of the most significant advancements in the history of the human understanding of biology, and it has the potential to reshape the world.
Doudna describes her own journey into the field of biochemistry beginning back in Hawaii with the discovery of James Watson’s book “The Double Helix” on her father’s bookshelf. From an early age growing up in Hawaii as the daughter of a literature professor, Doudna knew she wanted to pursue a career in science. But it was Watson’s famous book that opened her eyes to the human side of science.
Now her scientific research and startup endeavors have the potential to open humanity’s eyes to the potential benefits of this revolutionary field of science. Because in addition to her research work, Doudna is also a co-founder of a number of companies including: Mammoth Biosciences, Caribou Biosciences, Intellia Therapeutics and Editas Medicine.
These companies are tackling some of the biggest challenges that the world faces. Mammoth is working on a new type of COVID-19 test, Caribou is pursuing novel cancer therapies, and publicly traded Editas is pursuing treatments for ocular, neurodegenerative, and blood diseases as well as cancer therapies.
There’s almost no industry where gene editing hasn’t had some sort of effect. From material science to food science and agriculture to medicine, CRISPR technology is creating opportunities to remake entire industries.
Genetically modified organisms are already making Impossible Foods meat replacements taste meaty; they’re used in Solugen’s bio-based chemicals; and CRISPR edited cells have been proven safe in early trials to treat certain kinds of cancer.
Given the breadth of applications and the questions that the technology’s application raises about how and what limitations researchers should put on the technology, there will be plenty for Doudna to discuss on the Disrupt stage, including but certainly not limited to her recently announced work on making college campuses safer via a fast saliva-based COVID-19 test.
Disrupt is all virtual in 2020 and runs September 14 to September 18, and we have several Digital Pass options to be part of the action or to exhibit virtually, which you can check out here.
Doudna joins an incredible line-up of Disrupt speakers including Sequoia’s Roelof Botha and Atlassian co-founder Mike Cannon-Brookes. We’ll be announcing even more speakers over the coming weeks, so stay tuned.
(Editor’s Note: We’re watching the developing situation around the novel coronavirus very closely and will adapt as we go. You can find out the latest on our event schedule plans here.)
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The art of the pitchdeck. Few things are more critical to the success of startups seeding capital. And make no mistake, it is an art.
At TechCrunch Early Stage, our two-day virtual event focused on giving entrepreneurs all the resources they need to build incredible, high-growth early stage companies, we have plenty of content dedicated to the pitchdeck.
From a session on how to think like a PM for VC pitch success led by Lo Toney, to a session on how to time your fundraising sprint led by Jake Saper, to seed funding tips and tricks from Jeff Clavier, there’s something for everyone. Even if you don’t have a product, Charles Hudson will teach you how to sell your idea to investors.
The cherry on top of that pitch perfect sundae? The Pitchdeck Teardown.
Accel’s Amy Saper and Bessemer’s Talia Goldberg will lead the Pitchdeck Teardown, going over the look, feel and information provided within individual pitchdecks to share what they look for, what they don’t want to see, and how to get the best outcome when you send a VC your deck.
The coolest part is that the pitchdecks aren’t theoretical. Early Stage attendees can submit their pitchdecks ahead of time for a chance to see those decks critiqued live on stage.
Interested in being a part of it? Submit your pitchdeck here. But remember, you must be registered as an attendee of Early Stage to be selected.
TC Early Stage has so much to offer. The show will bring together 50+ experts across startup core competencies, such as fundraising, operations, and marketing. Cyan Bannister is set to explain how to get an investor to say yes to your startup. Asher Abramson will be sharing how to create growth assets for paid channels, lawyers James Alonso and Adam Zagaris will share how to draw up your first contracts, and Priti Choksi is hosting a session on how to get a company acquired rather than selling.
The two-day show features more than 50 sessions, but don’t worry; attendees will get transcripts for all of them. What’s more, most of the speakers, who happen to be investors, are participating in TechCrunch’s CrunchMatch, our platform that connects founders to investors based on shared interests.
Here’s the fine print. Each of the 50+ breakout sessions is limited to around 100 attendees. We expect a lot more attendees, of course, so signups for each session are on a first-come, first-serve basis.
Buy your ticket today, and you can sign up for the breakouts we are announcing today, as well as those already published. Pass holders will also receive 24-hour advance notice before we announce the next batch. (And yes, you can “drop” a breakout session in favor of a new one, in the event there is a schedule conflict.)
Get your TC Early Stage pass today and jump into the inside track on the sessions we announced so far, as well as the ones to be published in the coming weeks.
Possible sponsor? Hit us up right here.
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Most people would agree that a chief revenue officer is a pretty significant hire, but I have yet to meet mine in person. Right now, our only face-to-face interaction is over video. In fact, that’s how our relationship began — like many business leaders during this pandemic, I had to hire Todd through a series of video calls.
The pandemic has caused me to question and reevaluate many of my own assumptions. This not only led me to hire our CRO remotely, but it is ultimately why I also decided to allow employees to work from home until 2021.
While it’s tempting to call this a pivot, those who have worked with me would probably describe it more accurately as a flip-flop. I used to believe that you could build an in-person culture or a remote work culture, but that a hybrid of the two was destined to fail.
The realities of COVID-19 have not just changed my outlook, but transformed the way I think about how work should get done —and how leaders need to show up for their team, even if they can’t “show up” in any physical sense.
Before the pandemic, the debate over remote work revolved around its perceived impact on productivity, collaboration, employee engagement and culture.
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QuestDB, a member of the Y Combinator summer 2020 cohort, is building an open source time series database with speed top of mind. Today the startup announced a $2.3 million seed round.
Episode1 Ventures led the round with assistance from Seedcamp, 7percent Ventures, YCombinator, Kima Ventures and several unnamed angel investors.
The database was originally conceived in 2013 when current CTO Vlad Ilyushchenko was building trading systems for a financial services company and he was frustrated by the performance limitations of the databases available at the time, so he began building a database that could handle large amounts of data and process it extremely fast.
For a number of years, QuestDB was a side project, a labor of love for Ilyushchenko until he met his other co-founders Nicolas Hourcard, who became CEO and Tancrede Collard, who became CPO, and the three decided to build a startup on top of the open source project last year.
“We’re building an open source database for time series data, and time series databases are a multi-billion-dollar market because they’re central for financial services, IoT and other enterprise applications. And we basically make it easy to handle explosive amounts of data, and to reduce infrastructure costs massively,” Hourcard told TechCrunch.
He adds that it’s also about high performance. “We recently released a demo that you can access from our website that enables you to query a super large datasets — 1.6 billion rows with sub-second queries, mostly, and that just illustrates how performant the software is,” he said.
He sees open source as a way to build adoption from the bottom up inside organizations, winning the hearts and minds of developers first, then moving deeper in the company when they eventually build a managed cloud version of the product. For now, being open source also helps them as a small team to have a community of contributors help build the database and add to its feature set.
“We’ve got this open source product that is free to use, and it’s pretty important for us to have such a distribution model because we can basically empower developers to solve their problems, and we can ask for contributions from various communities. […] And this is really a way to spur adoption,” Hourcard said.
He says that working with YC has allowed them to talk to other companies in the ecosystem who have built similar open source-based startups and that’s been helpful, but it has also helped them learn to set and meet goals and have access to some of the biggest names in Silicon Valley, including Marc Andreessen, who delivered a talk to the cohort the same day we spoke.
Today the company has seven employees, including the three founders, spread out across the US, EU and South America. He sees this geographic diversity helping when it comes to building a diverse team in the future. “We definitely want to have more diverse backgrounds to make sure that we keep having a diverse team and we’re very strongly committed to that.”
For the short term, the company wants to continue building its community, working on continuing to improve the open source product, while working on the managed cloud product.
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Meet Envision, a new startup accelerator. The group, built and run by a collection of students and recent graduates, just closed the application process for its first cohort of startups.
Its goal isn’t merely to find some companies and give them a boost, however. According to Annabel Strauss and Eliana Berger, two co-founders of Envision, it’s to shake up the diversity stats that we’ve all come to know.
“We started Envision because we believe in a future where womxn, Black, and Latinx founders receive more than 3% and 1% of venture funding, respectively,” they said in an email. “As a team of students, we wanted to take matters into our own hands to help founders succeed — it’s our mission to support entrepreneurs early in their journeys, and amplify voices that are often underestimated.”
According to its own data, Envision attracted 190 applications, far above its initial, stretch-goal of 100. From its nearly 200 submissions, the group intends to select 15 entrants. According to Strauss and Berger, their initial goal was to winnow it to just 10. But, the pair told TechCrunch in an interview, they doubled the starting cohort size based on the strength of applications.
Envision will provide an eight-week curriculum and around $10,000 in equity-free capital to companies taking part (the group is still closing on part of the capital it needs, but appears to be making quick progress based on numbers shared with TechCrunch).
Each of the eight weeks that Envision lasts will feature a theme, 1:1 mentorship, office hours with startup veterans and, at the end, a blitz of investor-focused mentorship, and an invite-only demo day. The core of the Envision accelerator rotates around the mentors and other helpers it has accreted since coming into existence in early June.
Envision, run by 11 college students and recent graduates, quickly picked up enough startup veterans to run its program (names like Ryan Hoover, Arlan Hamilton, Alexia Tsotsis), and seemingly ample corporate support. In an email this morning, Envision told TechCrunch that Soma Capital, Underscore VC, Breyer Capital, Grasshopper Bank and Lerer Hippeau have joined as sponsors. Indeed, looking at Envision’s partner page reads a bit like a who’s who of Silicon Valley and startup names that you know.
Talking to Envision I was slightly surprised how many students are involved in venture capital today. The Envision team is a good example of the trend. Strauss is involved with Rough Draft Ventures, for example, which is “powered” by General Catalyst. Quinn Litherland from the Envision team is also part of the Rough Draft crew. Contrary Capital, which TechCrunch covered this morning and focuses on student founders, is represented by Timi Dayo-Kayode, James Rogers, Eliana Berger, and Gefen Skolnick on the team. The list goes on, with Danielle Lomax, Angel Onuoha, and Kim Patel all involved, and active in the VC world.
For Strauss, Berger and the rest of the Envision team the pressure is now on to select intelligently from their 190 applications, and provide maximum boost to their first cohort. If the program goes well, and the demo day it has planned in two months proves useful to both startups and investors alike, I don’t see why Envision wouldn’t stage another class down the road. Though of course, it might want to follow in the footsteps of Y Combinator, TechStars and 500 Startups at that point and take an equity stake in the companies it works with.
Envision says in large letters at the top of its website that it is “helping diverse founders build their companies.” If the group succeeds in meeting that mark, it will be an implicit critique of the old-fashioned venture capital world that has historically not invested in diverse founders.
If a dozen college students and recent grads can spin up an accelerator in a few weeks, get nearly 200 applications, and select a diverse cohort to support, then what’s everyone else’s excuse.
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The first wave of AR startups offering smart glasses is now over, with a few exceptions.
Google acquired North this week for an undisclosed sum. The Canadian company had raised nearly $200 million, but the release of its Focals 2.0 smart glasses has been cancelled, a bittersweet end for its soft landing.
Many AR startups before North made huge promises and raised huge amounts of capital before flaring out in a similarly dramatic fashion.
The technology was almost there in a lot of cases, but the real issue was that the stakes to beat the major players to market were so high that many entrants pushed out boring, general consumer products. In a race to be everything for everybody, the industry relied on nascent developer platforms to do the dirty work of building their early use cases, which contributed heavily to nonexistent user adoption.
A key error of this batch was thinking that an AR glasses company was hardware-first, when the reality is that the missing value is almost entirely centered on missing first-party software experiences. To succeed, the next generation of consumer AR glasses will have to nail this.
Image Credits: ODG
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