Tuesday’s episode of Techmeme Ride Home had the rumoured details of Apple’s mixed reality device. At $3000 it will be double the price of the Quest Pro and 7.5x the price of the Quest 2. Even still, Apple’s craftsmanship and cult following should drive interest in VR/the metaverse.
This benefits Meta.They are onto their sixth device, offer more apps and are more committed to the metaverse. More interest in VR devices means more users choosing Quests in the short term. How long will Apple take to catch up?
- 2023 will be big for VR
- Elon made Zuck look good
- TikTok is getting more negative press
- Q4 2022 earnings may be rough
- Strong outlook in India
- Core apps are still strong
- Reels and Quest are growing
- Still cheaper than the rest of FAANG, Nike, Disney, etc
From his 2015 shareholder letter;
We all know that if you swing for the fences, you’re going to strike out a lot, but you’re also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it’s important to be bold. Big winners pay for so many experiments.