Humane, a wearable startup founded by ex-Apple employees Imran Chaudhri and Bethany Bongiorno in 2018, is reportedly seeking a sale after its first and only product launch failed to gain traction. Although the company only has one product in its portfolio, the Humane AI Pin, it is seeking a sale price between $750 million and $1 billion. Despite the staggering price tag, the future of Humane seems uncertain considering the underwhelming reception the AI Pin received and the lack of any other products in the pipeline.
The Humane AI Pin is a wearable voice command box and camera that attaches to clothing using a magnetic back. The device aimed to replace smartphones by offering voice commands and a projection system onto the user’s hand. However, it did not have a traditional display or support for apps, limiting its functionality compared to smartphones or even smartwatches. At a price of $700, plus a $24-a-month subscription fee, it faced strong competition from more established and affordable alternatives in the market, such as the Apple Watch Series 9 priced at $400.
From a design perspective, the Humane AI Pin faced numerous challenges. The device’s weight made it impractical to wear on lighter clothing, negatively impacting the user experience. The laser projector used for the display also struggled to perform well in well-lit environments, limiting its usability outdoors or in well-lit rooms. The slow voice response time and constant warmth emitted by the device against the user’s chest added discomfort to the user experience. Furthermore, the device’s battery life of only two to four hours raised concerns about its practicality for all-day usage. Critics, including reputable tech reviewers, slammed the AI Pin for its lackluster performance and questionable design choices, with some even labeling it the “worst product ever reviewed.”
Given that the AI Pin only started shipping in April, it is challenging to determine the exact sales figures and user adoption of the product. However, given the founders’ decision to seek a sale so quickly after the product launch, it suggests that the reception and sales were far from what they had anticipated. With its lack of product diversity and a highly competitive market dominated by well-established players like Apple and Samsung, Humane’s prospects seem bleak.
If Humane fails to find a buyer for its lofty price tag, it may join the list of notable tech startup flops in history. Companies like Juicero and Ouya experienced similar fates, failing to gain traction in the market and ultimately closing down. While the tech industry proves conducive to innovation and success, it is also unforgiving to those who cannot deliver products that meet consumer expectations. Humane serves as a cautionary tale for startups, highlighting the importance of market research, product differentiation, and understanding user needs before investing significant resources.
In conclusion, Humane’s failure to gain momentum following the launch of its AI Pin raises questions about the viability and long-term prospects of the company. The device’s limitations, combined with the intense competition in the wearable technology market, have put the company in a challenging position. The founders’ decision to seek a sale after just one product launch suggests significant disappointment with the AI Pin’s performance. Whether Humane can find a buyer at its lofty price remains uncertain, but its journey serves as a reminder of the competitive nature of the tech industry and the need for continuous innovation and user-centric products.
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