David Senra · Apr 12Evan Spiegel, Snapchat: Building a Multi-Billion Dollar Company
Specs owns its display stack, with its own waveguide and tiny projector, and makes core components in US and UK facilities. It targets premium enthusiasts first, runs separately because hardware mistakes cost a year, and the first consumer version launches later this year. Spectacles sold hundreds of thousands of units but was not 10 times better than a phone camera. That pushed Snap toward full AR glasses, adding depth cameras, a display, then an OS and developer platform.
Tips
- Spiegel argues hardware should start premium and enthusiast-led, not mass and low-margin▶ 56:06He cites the Tesla Roadster, early iMac and early iPhone as the pattern, and calls Meta Ray-Bans a volume strategy that may not build a durable business.
- Snap controls only the hardware parts where it can truly differentiate▶ 1:00:59He says no one comes close to Snap's display experience, and the advantage will show in the consumer product launching later this year.
- Spiegel dropped camera glasses because they were not 10 times better than a phone▶ 46:42Generation one had one camera, generation two added depth, then a display, then an OS and developer platform.
- Spiegel runs Specs as a separate company because hardware punishes mistakes▶ 1:22:30Specs is a wholly owned subsidiary; Spiegel also notes Steve Jobs kept new inventions out of the main building.
