The Mess at Nest Echoes the Mess in the Smart Home

Stacey Higginbotham for Fortune:  In January 2014, Google (now under the parent umbrella corporation Alphabet) said it would purchase Nest for $3.2 billion, which validated the hopes and dreams of hundreds of startups that were also building connected products for the consumer home.

After the deal was announced, the VC world went mad searching for investments, while larger companies searched for potential acquisition targets. At industry events that year, everyone I ran into with a connected product or a KickStarter was in talks to sell out or score more funds.

But two years later, the reality has set in as entrepreneurs in the space are dealing with a skeptical customer base and the challenges of seeing their grand vision for a connected home get mired in rival standards. Meanwhile, economic concerns are leading tech companies to prepare for everything from a nuclear winter to a mild recession.  Cont'd...

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

ELK Products -M1 GOLD with Two-Way Wireless

ELK Products -M1 GOLD with Two-Way Wireless

The M1 Gold Security & Automation Control combines security, fire, energy management, lighting, and access control to provide total control of the home. Easily integrating with products of industry partner manufacturers, M1 controls offer a truly customized solution. With remote access capabilities and simple, user-friendly interfaces, M1 keeps homeowners informed and in control, anytime, anywhere! ELK's Two-Way Wireless family of products for the M1 offers a truly secure and reliable wireless solution with cutting edge techniques such as frequency hopping and UL approved jamming detection to defend against interference, hacking, and jamming. Advanced features ensure reliability, extend battery life, and provide innovative security enhancements including wirelessly interconnected smoke detectors, motion detectors with built-in security/convenience lights, and key fobs with a system status inquiry button, allowing users to see if an alarm has been activated before entering the home.