The smartphone could be a thing of the past if Snap has its way an Specs take over the market. But at $2,195 it could be a tall task selling these to consumers, even if they were stylish. Plus, we talk about Rivian’s layoffs and Eli Lilly’s latest acquisition. Travis Hoium, Lou Whiteman, and Rachel Warren discuss: - Snap’s new Specs - Rivian announces more layoffs - Eli Lilly’s acquisition spree continues Companies discussed: Snap (SNAP), Rivian (RIVN), Eli Lilly (LLY), Tesla (TSLA), Meta Platforms (META). Host: Travis Hoium Guests: Lou Whiteman, Rachel Warren Engineer: Dan Boyd Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We’re committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Snap’s Specs Gamble

Motley Fool Hidden Gems Investing

# Full Transcript

**Podcast:** Motley Fool Hidden Gems Investing

## Participants

- **Travis Hoium** (The Motley Fool)
- **Lou Whiteman** (The Motley Fool)
- **Rachel Warren** (Motley Fool)

## Transcript

[SPEAKER_02] Is the AR future here? Motley Fool Hidden Gems Investing starts now. Welcome to Motley Fool Hidden Gems Investing. I'm Travis Hoy. I'm joined today by Lou Whiteman and Rachel Warren. And guys, we've got to talk about probably the most entertaining story of the week. That is Snap introducing its new augmented reality glasses. Lou, these seem to be right up your alley.

[SPEAKER_02] I assume you're already in line to buy these $2,200 AR glasses that look like there's a reflective film on them. How in the world does this product, I'm actually a believer in the future of AR and VR. We're kind of moving in that direction with a lot of different platforms like Google. But this doesn't seem like it. And Snap just can't seem to be getting anything right at this point.

[SPEAKER_04] I'm not going to, you know, isolate Snap here. I don't get it for everyone. OK, but definitely with Snap, this seemed like a bad Saturday Night Live sketch. If you watch Evan Spiegel talking about this on CNBC, was it CNBC or Saturday Night Live? I'm not sure. You know, the expression, the beatings will continue until morale improves.

[SPEAKER_04] I feel like the goal here now is for this whole industry to keep telling us that it's inevitable until the consumer somehow kind of gets brainwashed into thinking, oh, I guess I have to buy these. I'm skeptical. Spiegel's pitch here is after two decades with the smartphone, quote, people are ready to think about computing differently. My take on that is after two decades with the smartphone, we need a new product to sell.

[SPEAKER_04] You know, I don't think people are out there thinking, gosh, I wish I could have one eighth of the screen always in my face because I'm just so sick of looking at this nice screen that I can use for all these things. Unproven form factor, unproven user interface.

[SPEAKER_04] Look, Snap's answer to people questioning, should we be on the phone as much as we are, is to put a smaller screen in our line of vision 24-7, which is a really bold move. I don't think neck pain is the reason people are starting to have a conversation about, are we online too much, right? But somehow that's the answer. Even the timing here is wrong. Travis, you mentioned the price.

[SPEAKER_04] This is probably the worst economy in the last 15 years to try to launch a premium product, especially in Snap's demographic, which, to be honest, is much younger than me. These are not the people that are saying, you know what? I'm sick of my iPhone. I want to spend twice as much for something new right now. I just don't see it.

[SPEAKER_02] Yeah, Rachel, it does seem interesting that I'm not surprised that these AR glasses are coming out. I'm actually kind of excited about the potential for them. I don't know if it's...

Snap’s Specs Gamble

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Snap’s Specs Gamble

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.