VR headset is a failed product; stock is down 5%.
Snap's new $2,000 VR headset is a terrible product — too bulky for casual wear, too expensive, and the CEO is delusional about competition.
The new Spectacles are bulky, ugly, and priced at $2,000. The CEO's concern about competitors copying them is delusional — Meta's Ray-Ban glasses are better and cheaper. The stock dropped over 5% after the reveal, reflecting investor skepticism.