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Meta's First ‘Real' Smart Glasses Have One Huge Problem

Meta's First ‘Real' Smart Glasses Have One Huge Problem

Gizmodo2 days ago
When Google Glass came stumbling onto the scene in 2013, people were taken aback. Not only did Google's smart glasses, with their bordering-on-novel camera, present new and somewhat icky questions about personal privacy, but they also crossed an even more controversial line: they looked really, really dorky. Fast forward more than 10 years into the future, and all of those hangups (at least on the surface) seem to be in the rearview. Take Meta, for example.
Sales of Meta's Ray-Ban smart glasses have been surprisingly high, keeping even its waning Quest mixed reality headset afloat. Meta is rumored to be on the precipice of launching its first-ever pair of 'real' smart glasses, which is to say glasses with an actual display in them. And naturally, more than a decade removed from Google Glass, the rhetoric around Meta's glasses (codenamed Hypernova) couldn't be more disparate from smart glasses of yore. People are excited; they're watching; even Apple is rumored to be looking at the field as a potential new frontier. So, this is all money in the bank for Meta, right? Maybe, but I wouldn't count those shiny new metaverse dollars just yet.
As promising as Meta's push into smart glasses might be, there's one quirk with Hypernova that I can't seem to get off my mind. It's not the glasses themselves, necessarily, but the rumored 'neural wristband' that reportedly comes with them. Let me backtrack for a moment for those that haven't been keeping up; as I mentioned previously, Meta's next smart glasses will most likely have a display. If they have a screen, then they're going to need a way for people to control things on said display, including 'mini apps,' which are stripped-down versions of apps that can run on glasses and are a capability rumored by Bloomberg. There are a few ways you could go about controlling a pair of smart glasses with apps, but Meta's approach is allegedly a 'neural wristband,' which is a wearable that reads the electrical signals in your arm for finger- and hand-based inputs. This is where the weirdness comes in.
On one hand (or wrist, I guess), a wristband that reads the signals sent through your brain and into your hand is objectively kind of awesome. Like, damn, that's some future shit if I've ever seen it. On the other, it's a big liability at best. As useful as a wristband like that may be, asking people to strap on a wearable to use their smart glasses properly is a tall order. My guess is most people paying $800 (the rumored price of Hypernova) for a futuristic pair of smart glasses will want an all-in-one package. It's not a big deal on paper to remember to strap your wristband on, but what if it needs a charge? What if you don't like wearing stuff on your wrist or arm? Or—and this is what I think is arguably the biggest problem—what if you don't like how it looks?
One of the biggest problems with Google Glass, as I mentioned before, is that you looked like you were wearing a gadget when you had it on. So much so that anyone who dared slide them onto their face was dubbed a 'glasshole.' It was Google Glass's noticeable camera module and display prism that turned it into a pariah and prevented what could have been a fruitful category of device from growing past an infancy stage. It's not all about looks, obviously—2013 was also a very different time when it came to personal privacy, a concept that has been severely eroded as the years have gone on. But I think there's a reason Meta's very much glasses-presenting Ray-Bans, which do almost everything Google Glass did and more, have caught on, and presentation is a major part of that.
But hey, things are definitely different now, and maybe the same can be said for what people are willing to wear on their bodies or not. All I know is that it seems like a lot of what could make Hypernova useful or special comes down to a wearable, and while smart glasses might be a semi-proven category, wristbands are not. Google Glass might be long dead, but just because those mistakes are in the rearview doesn't mean they can't be made again.
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Newegg Announces First Half 2025 Results
Newegg Announces First Half 2025 Results

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Newegg Announces First Half 2025 Results

DIAMOND BAR, Calif., August 22, 2025--(BUSINESS WIRE)--Newegg Commerce, Inc. (NASDAQ: NEGG) (the "Company" or "Newegg"), a leading global technology e-commerce retailer, today announced results for the six months ended June 30, 2025. "Newegg experienced strong year-over-year growth in the first half of 2025, driven primarily by increased demand for GPUs and other core PC components, including the highly successful launch of the NVIDIA GeForce RTX 50 Series and AMD Radeon RX 9000 Series graphics cards, and AMD Ryzen 9000X3D Series CPUs," said Newegg Chief Executive Officer Anthony Chow. "These new product launches further boosted organic traffic and spurred robust cross-category purchasing, driving both topline growth and improved gross margins. We also benefited from pull-forward spending due to tariff uncertainty while simultaneously minimizing tariff impact on supply chain and customer experience through close collaboration with our key partners and suppliers. I am pleased with our results, and we will continue to be agile and opportunistic throughout the remainder of the year as we aim to deliver a superior experience for our loyal Newegg customers." Newegg Interim Chief Financial Officer Christina Ching added, "In the first half of 2025, Newegg demonstrated significant growth driven by robust sales of PC components, particularly boosted by positive momentum from the new GPU and CPU product launches. This strong consumer demand led to a 14% year-over-year increase in GMV and a 13% rise in net sales. Along with SG&A expense reductions following various strategic cost optimization measures throughout 2024 and 2025, our adjusted EBITDA improved substantially to $11.3 million for the six months ended June 30, 2025, up from a $7.3 million loss for the same period in 2024. We have also maintained focus on our cash balance and working capital. We also recently launched an 'at the market' (ATM) offering program, which we intend to use for general corporate purposes and working capital. As we move forward, our focus remains on maximizing market opportunities while navigating the ongoing tariff environment and other macroeconomic factors." 2025 First Half Financial Highlights Net sales increased 12.6% to $695.7 million for the six months ended June 30, 2025, compared to $618.1 million for the six months ended June 30, 2024. GMV (defined below) increased 13.7% to $849.1 million for the six months ended June 30, 2025, compared to $746.7 million for the six months ended June 30, 2024. Gross profit increased 26.5% to $79.8 million for the six months ended June 30, 2025, compared to $63.1 million for the six months ended June 30, 2024. Net loss was $4.2 million for the six months ended June 30, 2025, compared to $25.0 million for the six months ended June 30, 2024. Adjusted EBITDA (defined below) was $11.3 million for the six months ended June 30, 2025, an increase of $18.6 million, compared to negative $7.3 million for the six months ended June 30, 2024. 2025 First Half Operational Metrics Average order value was $467 for the six months ended June 30, 2025, compared to $401 for same period in the prior year. Active customers, defined as unique customer IDs with at least one item purchased on Newegg platforms in the past six months, totaled approximately 1.13 million as of June 30, 2025, compared to 1.09 million for the same period in the prior year. Repeat purchase rate, which is the percentage of active customers who made at least two purchases on Newegg platforms during the past six months, was 25.2% as of June 30, 2025, compared to 23.0% for the same period in the prior year. Mr. Chow added, "We are excited for several launches in the second half, including the expansion of our ABS line of PCs to high-performance workstations and tower servers, powered by industry-leading NVIDIA RTX PRO 6000 Blackwell graphic cards, helping businesses to explore and advance generative, agentic and physical AI. We will also be debuting our Gamer Community and Gamer Zone, which underscore our commitment to growing and supporting the gaming ecosystem, giving back to the very community that has fueled our success. We remain energized by our momentum, steadfast in optimizing our supply chain strategies to minimize any macroeconomic impacts, and confident in what lies ahead." About Newegg Newegg Commerce, Inc. (NASDAQ: NEGG), founded in 2001 and based in Diamond Bar, California, near Los Angeles, is a leading global online retailer for PC hardware, consumer electronics, gaming peripherals, home appliances, automotive and lifestyle technology. Newegg also serves businesses' e-commerce needs with marketing, supply chain, and technical solutions in a single platform. For more information, please visit Follow Newegg on X, TikTok, Instagram, Facebook, YouTube, Twitch, and Discord. Non-GAAP Financial Information This press release presents certain "non-GAAP" financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America ("GAAP"). A reconciliation of non-GAAP financial measures used in this press release to their nearest comparable GAAP financial measures is included in the schedules attached hereto. GMV The Company defines gross merchandise value, or GMV, as the total dollar value of products sold on its websites and third-party marketplace platforms, directly to customers and by its Marketplace sellers through Newegg Marketplace, net of returns, discounts, taxes, and cancellations. GMV also includes the services fees charged through its Newegg Partner Services in rendering services for its third-party logistics, shipped-by-Newegg, and media ad services, as well as the sales made by its Asia subsidiaries. Newegg believes that GMV helps it assess and analyze changes in revenues, and if reviewed in conjunction with net sales and other GAAP financial measures, can provide more information in evaluating its current performance and in assessing its future performance. Adjusted EBITDA Newegg calculates Adjusted EBITDA as net income/loss, excluding stock-based compensation expense, interest income, net, income tax (benefit) provision, depreciation and amortization expense, gain/loss from sales of fixed assets, gain/loss from sales of investment, and gain/loss from warrants liabilities. Newegg believes that exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period basis and excludes items that it does not consider to be indicative of its core operating performance. Accordingly, Newegg believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of Newegg's results as reported under GAAP. Some of these limitations are: although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; Adjusted EBITDA does not reflect changes in, or cash requirements for, working capital needs; Adjusted EBITDA does not consider the potentially dilutive impact of stock-based compensation; Adjusted EBITDA does not reflect tax payments that may represent a reduction in cash available to Newegg; and other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, operating profit and Newegg's other GAAP results. Cautionary Statement Concerning Forward-Looking Statements This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, beliefs or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "plans," "believes," "should," "continue," "intend," "aim" and certain other statements about the future may be deemed forward-looking statements, including those regarding potential new product launches, the ability of new product launches to meet consumer needs, the Company's ability to navigate ongoing tariff uncertainty. Although Newegg believes that the expectations reflected in such forward-looking statements are reasonable at the time given, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. These risks and uncertainties include changes in global economic and geopolitical conditions, fluctuations in customer demand and spending, inflation, interest rates and global supply chain constraints. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company's SEC filings are available at NEWEGG COMMERCE, INC. Consolidated Balance Sheets (In thousands, except par value) (Unaudited) June 30,2025 December 31,2024 Assets Current assets: Cash and cash equivalents $ 59,063 $ 96,255 Restricted cash 843 3,487 Accounts receivable, net 28,970 64,363 Inventories, net 152,859 98,537 Income taxes receivable 2,085 2,452 Prepaid expenses 11,440 14,222 Other current assets 4,559 4,329 Total current assets 259,819 283,645 Property and equipment, net 46,597 51,175 Noncurrent deferred tax assets 915 914 Right of use assets, net 54,474 60,636 Other noncurrent assets 10,932 10,951 Total assets $ 372,737 $ 407,321 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 118,031 $ 148,279 Accrued liabilities 37,192 48,629 Deferred revenue 23,619 26,988 Line of credit 15,775 7,069 Lease liabilities – current 12,815 12,608 Total current liabilities 207,432 243,573 Income taxes payable 1,795 1,871 Lease liabilities – noncurrent 46,864 53,318 Other liabilities 2,545 2,467 Total liabilities 258,636 301,229 Stockholders' Equity Common Stock, $0.43696 par value; unlimited shares authorized; 19,499 and 19,478 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively 8,521 8,512 Additional paid-in capital 300,628 289,096 Notes receivable – related party (15,187 ) (15,189 ) Accumulated other comprehensive loss (1,653 ) (2,300 ) Accumulated deficit (178,208 ) (174,027 ) Total stockholders' equity 114,101 106,092 Total liabilities and stockholders' equity $ 372,737 $ 407,321 NEWEGG COMMERCE, INC. Consolidated Statements of Operations (In thousands) (Unaudited) Six Months EndedJune 30, 2025 2024 Net sales $ 695,670 $ 618,119 Cost of sales 615,878 555,003 Gross profit 79,792 63,116 Selling, general, and administrative expenses 87,329 93,083 Loss from operations (7,537 ) (29,967 ) Interest income 1,058 1,544 Interest expense (466 ) (440 ) Other income, net 3,410 1,880 Gain from sales of investment - 1,619 Change in fair value of warrants liabilities (72 ) (64 ) Loss before provision for (benefit from) income taxes (3,607 ) (25,428 ) Provision for (benefit from) income taxes 574 (474 ) Net loss $ (4,181 ) $ (24,954 ) NEWEGG COMMERCE, INC. Consolidated Statements of Cash Flows (In thousands) (Unaudited) Six Months EndedJune 30, 2025 2024 Cash flows from operating activities: Net loss $ (4,181 ) $ (24,954 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 4,425 5,739 Allowance for expected credit losses 20 1,193 Allowance for related party receivables 2 - Provision for obsolete and excess inventory 1,359 1,569 Stock-based compensation 11,630 15,022 Gain from sales of investment - (1,619 ) Change in fair value of warrant liabilities 72 65 Loss (gain) on disposal of property and equipment (643 ) 52 Unrealized gain on marketable securities - (10 ) Deferred income taxes - (169 ) Changes in operating assets and liabilities: Accounts receivable 35,377 42,426 Inventories (55,168 ) 2,223 Prepaid expenses 2,807 4,913 Other assets 6,533 8,959 Accounts payable (30,604 ) (95,388 ) Accrued liabilities and other liabilities (18,099 ) (15,036 ) Deferred revenue (3,482 ) (8,182 ) Net cash used in operating activities (49,952 ) (63,197 ) Cash flows from investing activities: Payments to acquire property and equipment (1,248 ) (1,212 ) Proceeds on disposal of property and equipment 2,723 15 Proceeds from sale of investment - 2,076 Net cash provided by investing activities 1,475 879 Cash flows from financing activities: Borrowings under line of credit 10,000 41,098 Repayments under line of credit (1,751 ) (27,474 ) Repayments of long-term debt - (132 ) Proceeds from exercise of stock options - 95 Payments for employee taxes related to stock compensation (89 ) (241 ) Payments for shares buyback - (3,503 ) Net cash provided by financing activities 8,160 9,843 Foreign currency effect on cash, cash equivalents and restricted cash 481 (886 ) Net decrease in cash, cash equivalents and restricted cash (39,836 ) (53,361 ) Cash, cash equivalents and restricted cash: Beginning of period 99,742 106,474 End of period $ 59,906 $ 53,113 Schedule 1 Reconciliation of Net Sales to GMV (In millions) (Unaudited) Six Months EndedJune 30, 2025 2024 Net Sales $ 695.7 $ 618.1 Adjustments: GMV - Marketplace 173.0 153.0 Marketplace Commission (14.3 ) (12.7 ) Deferred Revenue (4.6 ) (5.8 ) Other (0.7 ) (5.9 ) GMV $ 849.1 $ 746.7 Schedule 2 Reconciliation of Net Loss to Adjusted EBITDA (In millions) (Unaudited) Six Months EndedJune 30, 2025 2024 Net loss $ (4.2 ) $ (25.0 ) Adjustments: Stock-based compensation expenses 11.6 15.0 Interest income, net (0.6 ) (1.1 ) Income tax (benefit) provision 0.6 (0.4 ) Depreciation and amortization 4.4 5.7 Gain from sale of fixed assets (0.6 ) - Gain from sale of investment - (1.6 ) Loss from change in fair value of warrants liabilities 0.1 0.1 Adjusted EBITDA $ 11.3 $ (7.3 ) View source version on Contacts Newegg Commerce, Inc.: Investor Relationsir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Exclusive-OpenAI's chief people officer to depart, company says
Exclusive-OpenAI's chief people officer to depart, company says

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Exclusive-OpenAI's chief people officer to depart, company says

By Anna Tong SAN FRANCISCO (Reuters) -OpenAI's chief people officer, Julia Villagra, is leaving the company ON Friday, the company told Reuters on Thursday. In March, OpenAI CEO Sam Altman announced that Villagra had been promoted to the chief people officer role. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Wire & Cable Market worth $266.17 billion by 2029 at 5.8%, says MarketsandMarkets™
Wire & Cable Market worth $266.17 billion by 2029 at 5.8%, says MarketsandMarkets™

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Wire & Cable Market worth $266.17 billion by 2029 at 5.8%, says MarketsandMarkets™

Delray Beach, FL, Aug. 21, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Wire & Cable Market is estimated at USD 201.04 billion in 2024 and is projected to reach USD 266.17 billion by 2029, at a CAGR of 5.8%, as per the recent study by MarketsandMarkets™. There are various factors due to which the demand for wire & cable will grow in the coming years. Firstly, the growing renewable energy sector is a major driver of the wire & cable market. Countries across the globe are increasing their renewable energy production by installing grid technology and initiating offshore as well as onshore wind projects. These projects are generating huge revenues for wire and cable manufacturers especially since there is an increased demand for submarine cables due to offshore projects. Additionally, countries worldwide are investing heavily and providing subsidies to boost EV sales, which is further necessitating the need for more EV charging points. This is significantly driving the need for specialized EV cables. Construction, Telecommunication, Energy & Power, Automotive, and Oil & Gas industries are generating significant demand for wire and cables. Download PDF Brochure: Browse in-depth TOC on 'Wire & Cable Market' 175 - Market Data Tables 71 – Figures 258 - Pages List of Key Players in Wire & Cable Market: Prysmian (Italy), Belden Inc. (US), Fujikura Ltd. (Japan), Furukawa Electric Co., Ltd (Japan), Leoni Ag (Germany), Nexans (France), Emerson Electric Co. (US), Hellenic Cables (Greece), KEI Industries (India), Sumitomo Electric Industries, Ltd. (Japan), NKT A/S (Denmark), Finolex Cables Ltd (India), Helukabel (Germany) Drivers, Opportunities and Challenges in Wire & Cable Market: Drivers: Rising demand for cables from renewable energy sector Restraint: Fluctuating raw material prices. Opportunity: Surge in demand for cables in EV infrastructure. Challenge: Enhancing insulation durability. Get Sample Pages: Key Findings of the Study: By 2029, Wire & Cable market is expected to grow moderately in terms of value. Underground cables dominate the global market in 2023, in terms of value. Asia Pacific region is expected to account for the largest market share in 2023. Based on Installation, the wire & cable market is divided into three types namely, overhead, underground, and submarine. The underground installation has the maximum demand in the wires & cables market. This is because human tends to require greater reliability and visibility in Urban areas which has also boosted the trend. There are many advantages of underground cables over overhead installation for instance they are not affected by weather conditions, they are less likely to be affected by an accident, or a falling tree and they are less visible and thus are not disrupting the aesthetic view of an area. Also, installations located underground are less exposed to interference and acts of vandalism, and, therefore, suitable for dense neighbourhoods and important connections. The market share of underground solutions will also continue to increase in the future as cities grow and develop, in general, requiring various solutions to fit modern society's needs. Based on product type, the wire & cable market is divided into five types namely, electronic wires, power cables, control & instrumentation cables, communication cables, and flexible & specialty cables. The electronic wires dominate the market with the highest market share and also is expected to be the fastest-growing type of product. Electronic wires have immense application various electronic devices including smartphones, computers, and other consumer electronic equipment. Thus, with the growing proliferation of these electronic devices, there is an expected growth in the demand of electronic wires. Get Customization on this Report: Based on material type, the wire & cable market is divided based on metal and polymer. The metal is an irreplaceable part of the wire and cables and thus dominates the material segment of the wire & cable market. Metals include copper and aluminium which have excellent electrical conductivity properties. Copper is used for high-voltage power transmission and is on the expensive side whereas aluminium is used in lightweight and cost-effective wires and cables. Metals comprise the major part of wire and cables, whereas the polymer is mainly used to sheath them to protect from external damage. Based on Region, Currently, the wire and cable demand in Asia-Pacific is highest due to increased urbanization, development, and growth in the economy. With ongoing development in the electrical systems of the countries in this region accompanied by investment into the modernization of these systems, the role of high quality and performing wiring solutions assumes centre stage. This trend is attributed by mega structures like Smart cities, transportation systems, renewable energy platforms among others. Also, a growing manufacturing industry in the region and an increasing introduction of new technologies in the telecommunication and data centre industry increases the demand for the wire and cable system. The increasing levels of industrialization and urbanization in the Asia-Pacific region with persevered demands for higher connectivity and efficiency in energy usage would keep the region in the wire and cable market as a key growth factor Browse Adjacent Markets Advanced Materials Market Research Reports Related Reports: Electrical Steel Market Metal Stamping Market Coated Fabrics Market Isobutyric Acid Market Marine Lubricants Market CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445, USA: +1-888-600-6441 Email: sales@ Visit Our Website:

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