Snap's $2,195 glasses gamble: CEO says just trust the vibes
Snap CEO Evan Spiegel dodged investor questions about preorder demand for its long awaited Specs smart glasses on Monday's earnings call, weeks before their September launch. The device costs a staggering $2,195, way above Meta's Ray-Ban glasses starting at $350, though still cheaper than Apple's $3,500 Vision Pro. Spiegel admitted mass market adoption is unlikely until the end of the decade, betting Snap can out innovate Meta, Apple, and Google as a first mover in the category, despite a decade of development and no clear proof anyone's actually buying yet.
Nothing says confidence like refusing to share your preorder numbers on an earnings call.