Yesterday BI Intelligence released Wearable Computing: From Fitness Bands To Smart Eyewear, A New Mobile Market Takes Shape. It’s a great roundup of the space that includes growth projections, categories, current consumer awareness, and barriers to adoption.
Overall consumer awareness is still low.
Speculation on the future market for wearable devices is a confusing mix of skepticism and hype.
Different categories of wearables are at different stages of consumer adoption. One category of devices — fitness and health-oriented smart bracelets — have already gained wide acceptance among consumers.
- Despite tech press and crowdfunding enthusiasm for products like the Pebble smartwatch, it is not clear that the consumer mainstream will take to Internet-connected watches.
- Google Glass and other eyewear devices are still moonshots — albeit with great potential in areas ranging from advertising to gaming and photography.
- Smart fitness bands and medical bracelets are well on their way to becoming mainstream connected devices. They excel at a variety of applications — from glucose monitoring for diabetics, to tracking the workouts of fitness buffs — and are already generating significant revenue for manufacturers and app developers.
- Smartwatches are more obtrusive and likely won’t have anywhere near the mass appeal of smartphones and tablets. That said, smartwatches that double as fitness bands — basically, fitness bands with a time display — will likely do well.
- Until designs improve, it’s unlikely that consumers will take to eyewear devices like Google Glass, given their strange appearance.
- Augmented-reality eyewear does hold out the promise of a new environment for immersive marketing and ad campaigns. We expect large advertising and media organizations to push Google Glass and similar devices.
Agree with the conclusions or not, some very smart –in fact, visionary– investors are making big bets on Google Glass. Click here and here to read about the “Glassholes”. Like we first saw with the iPhone ecosystem, followed by Android, as useful apps become available, mobile eyewear will offer transformative experiences and the ‘look’ will quickly be irrelevant or perhaps become a cool status symbol. And designs will evolve rapidly.
One area of profound concern associated with Google Glass, its terms of service and the legality of who owes the content of public spaces. This piece breaks the issue down in all its glory. It aint pretty.
We are watching this space with eager anticipation. Are you? What do you think?
Running around in the startup space for over 15 years, I’ve noticed a universal truism when it comes to articulating new ideas: 95-100% of the people you need to convince that it’s a good one don’t agree… until they do. Much of this skepticism is justified. Most startups fail and a lot of startup ideas do suck!
But our experience is that the glass is perpetually half-empty when it comes to your audience, especially if they are sources of capital, and how they evaluate prospects for your new ideas.
New Market Entrepreneurs need to possess the courage of their convictions to move heaven and earth on their own to prove their idea has merit. It is a hard, lonely and risky crusade.
You are not alone. Our good friend @robustus sent this summary along (in support of Bitcoin) that perfectly illustrates what we are talking about. It’s viewable in a pretty slide show here listing The 18 Most “Ridiculous” (at first) Startup Ideas That Eventually Became Successful. Here are a dozen…
We are building the world’s 20th search engine at a time when most of the others have been abandoned as commoditized money-losers. We’ll strip out all of the ad-supported news and portal features so you won’t be distracted from using the free search stuff.
We’ll sell books online, even though users are still scared to use credit cards on the web. Their shipping costs will eat up any money they save. They’ll do it for the convenience, even though they have to wait a week for the book
The world needs yet another Myspace or Friendster, except several years late. We’ll only open it up to a few thousand overworked, anti-social Ivy Leaguers. Everyone else will then join since Harvard students are so cool.
It is like email, SMS or RSS. Except it does a lot less. It will be used mostly by geeks at first, followed by Britney Spears and Charlie Sheen.
Filters! That’s right, we got filters!
People will use their insecure AOL and Yahoo email addresses to pay each other real money, backed by a non-bank with a cute name run by 20-somethings.
How about a professional social network, aimed at busy 30- and 40-somethings. They will use it once every 5 years when they go job searching.
Give us all of your bank, brokerage, and credit card information. We’ll give it back to you with nice fonts. To make you feel richer, we’ll make them green.
We are going to build a file sharing and syncing solution when the market has a dozen of them that no one uses, supported by big companies like Microsoft. It will only do one thing well, and you’ll have to move all of your content to use it.
A brand new operating system that doesn’t run a single one of the millions of applications that have been developed for Mac OS, Windows, or Linux. Only Apple can build apps for it. It won’t have cut and paste.
Software engineers will pay monthly fees for the rest of their lives in order to create free software out of other free software!
We are going to build a better web browser, even though 90 percent of the world’s computers already have a free one built in. One guy will do most of the work.
If you’ve been paying attention, New Market Entrepreneurs can’t help but to be in awe of the phenomenon called Bitcoin. This chart alone should get your attention:
Don’t know about Bitcoin? This is your entrepreneurial inner-voice: CHECK IT OUT!
Whether a coincidental alignment of 1) early stage financial panic in Europe and 2) right place/right time availability of a decentralized crypto-currency or the start of something big as a hedge or even an alternative to nearly every government on the planet pumping cash into their economies and debasing the future value of their currencies, we are not sure. What we are sure about is that, like Mobile, like The-Internet-of-Things, like Wearable Computing, like 3D Printing and other emerging engines of New Market Entrepreneurial opportunism, you can now add bitcoin. Bitcoin is not something you can master in 10 minutes. It will take an hour or more to truly ‘get it’. But here is an elevator pitch from the person who invented it:
[Bitcoin is] completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts… With e-currency based on cryptographic proof, without the need to trust a third-party middleman, money can be secure and transactions effortless.
While the chart above is an attention grabber, it’s not the real source of wonder and awe. As in all markets, manipulated or pure, crowd psychology will cause booms and busts. Everybody expects wild swings in both directions as this nascent currency makes its way into the mainstream.
Here are some of the fundamental reasons why bitcoin is earning wonder and awe from New Market Entrepreneurs. It has to do with the ability to transact frictionlessly, anonymously, in whatever denomination you wish (1,000,000 to .000,000,001) and in complete confidence that the value of your currency is protected from governmental hanky-panky. We are already hearing a growing roar of buzz associated with startup opportunities associated with bringing 1-click-access to bitcoin to the masses. This is something to at least watch. If your New Market Entrepreneurship efforts involve web-based transactions, might want to better understand if bitcoin can become a business driver for your revenue model.
Here are some places to start:
- You can find good recent introductory coverage from mainstream media here and here
- Here is a good deep-dive explanation.
- Here is a +/- 30min radio interview with a NYC-based entrepreneur who founded a thriving bitcoin hub/exchange. The interviewer asks most, if not all of the questions you probably have.
- Here is a website dedicated to bitcoin that is ofttimes referenced by bitcoin enthusiasts. And this Quora post rocks.
- Last, but not least, last week the US Feds announced their plans to regulate cyber-currencies. While not mentioning bitcoin by name, it’s clear bitcoin is now in their cross-hairs.
So have at it. We have a feeling you will feel the sense of wonder and awe too… either way, let us know what you think!
Update 5/6/13. Overnight, this blopost was published by a VC who very clearly describes the nature of the bitcoin opportunity (from an infrastructure-buildout perspective) as a bet that this nascent currency moves closer to the mainstream. By his calculation, 2 to 2.5X growth from where we are now will do it. It’s worth a look.
All of these market-sizing analyses require a 2 to 2.5 order of magnitude increase over current levels. Those same metrics have shown a 1 to 1.5x order of magnitude increase in the last year, so it doesn’t stretch the imagination to think that it might be possible.
In case you missed it, the juxtaposed photographs below started floating around last week. Two shots from a similar vantage point of people gathered in St. Peter’s Square in Rome.
The top photo is from 2005, two years before Apple’s launch of the iPhone spawned the smartphone and tablet era. The bottom from last week.
Now’s about the time we should play the Sesame Street tune, “One of these things is not like the other…”
It is nothing short of astounding how much our world has changed in 8 blink-of-an-eye years.
Opportunities for New Market Entrepreneurs are vast. This blog has been sharing observations for quite some time on just a handful of the Brave New World New Market opportunities our wireless mobility has spawned; among them: Internet-of-Things, SoLoMo, and Second Screen TV.
Then we happened upon the video below, an inspiring 5-min video montage prepared by the Associated Press entitled The Big Game 2.0: Are You Adapting? The video connects the dots of the changing media world among news organizations, advertisers, social media, digital devices and sport events worldwide — and how all of the changes are resulting in quickly evolving content consumption habits. It’s worth the look if you are interested in a glimpse of where it’s all headed. While it depicts the mega-sports events like the 2012 Olympics and the Superbowl, we believe these global events are indicative of what’s happening at the local level as well. Social, in-the-moment-sharing Second Screen sharing will become habitual among fans. It’s just the beginning.
It’s been a very busy couple of months for Dazzmobile, a LaunchPad-incubated mobile startup.
We are proud of our newest mobile solution for Jon Taffer’s Nightclub & Bar Show which hosts 30,000 owner/operators from the Nightclub&Bar industry in Vegas this week. You may recognize Jon’s name, he is the star and executive producer of the hit TV show, Bar Rescue on the Spike network. Heck, they even did a Superbowl ad!
Below are the app highlights. Unfortunately, the app is only available if you are one of the lucky 30K registered show attendees. Among its most unique features, features you wont see anywhere else in the event mobile marketplace, are the bevy of push-interactive games, trivia and quizzes. And every action in the app is ‘gameified’ which means that attendees can compete for a great set of prizes.
Here are some screenshots highlighting a small sampling of the push interactive gaming and gameification:
If you’re interested in seeing a demo of this compelling mobile technology and to learn how we can help you raise the bar in both your audience engagement and your event P&L, click here to arrange for 30-min call.
Here’s the app overview as found on the NCB Show website here
Dazzmobile offers a set of Software-as-a-Service Solutions to Event Organizers. We do three things: 1) we deliver custom-branded mobile apps for events, 2) we offer technology & creative services to provide year-round longevity to these events and 3) we shine a BigData spotlight on events… which has always been a dark element of the Marketing/Sales process. Dazzmobile powers conferences, tradeshows and meetings from 250 to 30,000 attendees for Corporations, Analyst firms, Trade Associations, and Trade Show/Event Promoters. Our multi-screen mobile experiences uniquely delight and engage audiences by allowing them to connect, discover, learn and play before, during and after the event. Learn more, including a 3 step video-demo tour at www.dazzmobile.com.
We admire the work The Founder’s Institute is doing. They have set out to “Globalize Silicon Valley” and in three short years they’ve made great progress.
The Founder Institute is an early-stage startup accelerator and global launch network that helps entrepreneurs create meaningful and enduring technology companies. Through a part-time four month program, existing and prospective founders can launch their dream company with expert training, feedback, and support from experienced startup CEOs – while not being required to quit their day job. Our unique Graduate Liquidity Pool also enables graduates and mentors to share in the equity upside of each class, creating local, teamwork-based ecosystems where great new businesses can flourish.
In just over three years of operation, the Founder Institute has helped launch over 650 companies across 39 cities and five continents – making us the world’s largest startup accelerator. Our goal is to “Globalize Silicon Valley” by launching 1,000 meaningful and enduring technology companies per year in over 50 cities worldwide.
The Founder Institute was founded in 2009 by serial entrepreneur Adeo Ressi, and is operated out of a small office in the heart of Silicon Valley.
Learn more about our model for Globalizing Silicon Valley through this infographic.
For the last three years, the Founder Institute has had its applicants perform a battery of personality and aptitude tests. Then it tracked those applicants — more than 15,000 test-takers as their startups launched. The goal: see if any personality traits could be matched to revenue growth and market traction. See the personality traits that most map to success here.