Here’s an interesting thought: what if we’re wrong about the internet of things actually being a big thing? It’s certainly possible, and although the industry is boom there are also many hurdles that it will need to overcome to achieve its projected 15 trillion dollar market capitalization. According to one study, executives are split over whether or not industry will take off like it is projected to do. Some executives seem to think the barriers to entry are too great, while others simply think that humans won’t find utility in the internet of things. The second notion is more interesting to me. All new tech trends have barriers to entry that can end them, but the hype cycle is something that has taken priority over our collective consciousness. Is the internet of things happening just because industry executives want it to? It’s a skeptical way to look at it, but while researching smart objects for this blog I have found myself thinking on numerous occasions that some of these startups simply don’t need to exist. There are some wonderful products being made, but this article does have me wondering if we’re experience the dotcom bubble 2.0. The underlying principle that will determine the movement’s success is how much utility a device being connected with the internet can truly provide a person.
A large portion of the products that we have posted on this blog have been funded through Kickstarter projects. It should be known by all consumers that a Kickstarter marketing video and page, while impressive, do not always guarantee a satisfactory product. Let’s let the Ring by Logbar be a warning to all consumers and enthusiasts of smart products. In the video posted above, the reviewer calls customer support and reports that his product only works as desired 5-10% of the time. That is a ridiculously low percentage for functionality. And what does he hear from support? That is the average functionality of the product that consumers are experiencing. Outraged, the reviewer continues to illuminate the rest of the product’s bugs. The simple light to indicate that the product is even on does not even work most of the time. Also, the application has to be open on the phone for the finger gestures to even work. This is all in addition to the clunky design of the ring that is highly uncomfortable. The kicker? The Ring is a $260 product. Clearly, there is some risk in the enthusiasm that Kickstarter can bring to developers that aren’t capable of delivering. To sum it up, /u/kingofeggsandwiches puts it very eloquently why this whole business is risky
“Wish people would be realistic with crowd funding. It’s gone to the dogs completely because all you have to do is make some graphics and a cgi design video of some completely unrealistic product and boom cue nerds handing over a million dollars for your pipe dream. I wish people would think “is this the type of thing a small tech start up can realistically produce”, hell I see stuff on their all the time that would take multinationals like Sony or Samsung with a nigh bottomless money pit a few years of development to get right, do you think a small crew working out a garage space in San Francisco is going to do a better job?
People have become suckers for the idea that a few guys with a dream can have a bigger impact and produce something better than a billion dollar company, it’s romanticism at its worst. Crowd funding is is great for quirky small to mid level projects that naturally have a hard time getting funded for being outside the box and frankly not worth the risk from big companies. It’s not a place were serious high level projects go instead of proper investment, the people who want to do that go to real investors and get investment because their ideas are not only good but also feasible. Just look at /r/shittykickstarters to see how ridiculous it’s become.”
It’s that time of the week. Check out this week’s most popular posts below.
Read about Mother, a smart object that has a place in every home. Learn about it here.
Black Friday Picks
Check out our Black Friday Smart Object picks for 2014 here.
New York City’s Smart Payphones
Learn about New York City’s ambitious plans to reinvent the payphone here.
Are you counting down minutes to your Thanksgiving dinner? Although there are many things to be thankful of, preparations for a get-together can be pretty hectic. Today, we are introducing several smart apps to ensure that you have a seamless Thanksgiving day!
From guest lists, grocery lists, recipes to the best forms of entertainment while waiting for that delicious turkey to cook, we got you covered. Our top three smart apps are:
- Paperless Post – App to keep track, inform and lets you communicate with guests.
- KitchenPad Timer – With so many food cooking at the same time, KitchenPad timer will help ensure you got it all under control!
- Macy’s Thanksgiving Day Parade – Although you can’t be there, this app allows you to watch the historical parade from anywhere you are!
Check out this article for the complete lists of useful smart apps. Have a great thanksgiving and stay tuned!
Check out this fascinating opinion piece from Wired Magazine about how Millennials created the IOT.
Call them millennials, Generation Y or simply those born between 1980 and 2000, this group forms the heart of why the IoT exists – and why it will endure
Read about it here.