Smartwatches: Do Consumers Even Want Them?

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July 29 (Bloomberg) –- SoftTech VC Founder Jeff Clavier and Bloomberg View columnist Barry Ritholtz discuss smartwatches and the demand for wearable technology. They speak on ‘Market Makers.” (Source: Bloomberg)

Evolution smart watch?

It is a very specific device that is a small version of your cell phone.

There is a very specific audience that wants to have some of those features available on this wrist.

The same people wearing google glass?

That is who i feel is wearing the smart watch.

It depends on the price point you want to pay for the gadget.

You look at the samsung dear, they have some good success in terms of sales, but not much market product.

Is the iwatch something that will sell in the tens of millions of units?

If you need to replace this watch, which i consider to be a piece of men's jewelry with a tech gadget?

I am definitely an apple fan boy, i have way too many apple gadgets, but i will not wear and iwatch.

I want to have the ability to know what sort of exercise i am doing.

The one thing i had to say about the iwatch, i want to reserve judgment until we see it.

When the iphone came out, when the ipad give out, they were panned.

People do not understand what these things can do until they learn how to adjust their behavior, and once they do that, you go back 10 years and you say you can carry more computing power than to the apollo to the moon in your pocket and it is touchpad and voice-activated command people would not believe it.

I do not know what the iwatch is going to do, we do not know what the killer app is.

I'm willing to give apple the benefit of the doubt and say apple will not put this out until they're pretty confident.

A very specific audience.

Very niche.

It was announced in september of 2008 at a conference, and they had 3000 pre-orders.

At that time, they have the advantages of manufacturing for startups, it was very hard to win a over product on the market . i feel like that is almost the same description you just given of the smart watch.

There was no connect the available -- connectivity available at the time.

A lot of people were using the fitbit, and it is scaling really fast.

Apple has all of this data on how people actually use their iphones, just like google does with android.

They have the ability to say here are what people use the most, these are the top five most commonly used apps.

It is more than the alarm clock and the weather, it is the run apps like run keeper.

Can they make this a compelling products that will make this the same sort of attitude -- sort of adaptation?

To the millions who use these wearables actually use all of the functionality?

I never tracking my sleep, the only thing i'm looking at is to have all of my lights illuminated by the end of the day.

It gives you feedback on the one metric which matters to you, which is having on your 10,000 steps today?

You do not need to track calorie intake if you do not want to.

It allows you to do a little bit, a lot more, or the whole set of functions.

We recall that mass market mess field devices we think about investing.

My target is the appropriation even though i know in part it to that level of penetration.

This is not a single purpose manual, why would i want something that only does everything ok, while i could have a really good phone, camera, or laptop?

Don't you want something that is excellent that each thing rather than pretty good at everything?

It was a compromise in terms of the first iphone.

Now it is actually really good, there's no reason for you to have something else.

I agree with you.

What is the price point?

Is a luxury where there is a lot more gross margin to go around?

Or is it something which will be in the $50 range which is $99? there is a portion of the market that says i am not wearing a room or band on my arm for 24 hours a day -- a rubber band on my arm for 24 hours a day.

Tell us on social media, for you, what do they get the most valuable company out there?

Facebook, because you 20% of the world's population on planet earth logging in on a monthly basis.

All of these companies have unique engagement with their users, and i'm sorry to say they will reach out as advertisers.

You think they are overvalued?

At the end of the day, and the private market, it is supply and demand.

Someone wanted to buy that $1.2 billion worth of shares, and they paid $10 million for it.

Yes or no?

No.

we passed on uber.

Why?

Because when i looked at it it was not as successful, and i said no in june, and i said yes in september.

Stay here, we have more

This text has been automatically generated. It may not be 100% accurate.

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