- Spectacles resembled an ephemeral 1970s fad.
- The devices failed to attract interest from Snap’s youthful users.
- The big question is now whether CEO Even Spiegel can keep the company cool in the face of Wall Street pressure.
I don’t know much of anything about Snap because I’m frankly just too old to get it.
But I have a 14-year-old daughter, and she and her friends get Snap and then some. They use it constantly — it’s by far their most beloved app.
But their enthusiasm isn’t helping Snap succeed as a public company. On Tuesday, Snap reported third-quarter results that disappointed Wall Street. The company also took a $40-million loss on Spectacles.
When Spectacles broke cover, I seriously wondered whether ky daughter and her crew would take to them. At $129 a pop, they weren’t a super-major outlay for a parent, or even a teen with some money saved up. I prepared myself to be asked for a pair as a holiday gift.
At the time, I thought there was something oddly brilliant about Spectacles. To me, they proved, that CEO Evan Spiegel is able to leverage his youth — he’s in his mid-twenties — to dial into some interesting business opportunities.
Mood rings and pet rocks
That said, Spectacles didn’t look to me a like a built-to-last kind of thing. Actually, they very much reminded me of a bunch of el-cheapo fads from my own pre-digital youth in the 1970s. You may have heard of some this goofy stuff, like pet rocks and mood rings.
Spectacles looked large and kind of silly — Spiegel called them a “toy” — and they came in basic black as well as two offbeat colors, the always popular teal and coral. They could only record up to 10 seconds of video, so they were clearly only useful as a Snapchat Read More Here