by Shaun Springer - Astro, Founder
Here is Part II of “The Jestons Fallacy” by Shaun Springer, founder of our smart home portfolio company Astro. In this piece, Shaun examines the past year in smart home innovation, disruption, acquisitions (Nest) and the effects of crowdfunding on widespread consumer adoption (or lack thereof). For those interested, Part I can be found here.
I remember sitting at my desk in early January 2014, when the news of Nest acquisition broke. My former associates from Crestron were asking me if the $3.2bn price tag was justified, and even began to speculate about Google’s future plans for the brand.
In a short amount of time, Nest was able to disrupt an archaic thermostat industry. It provided obvious and easy-to-understand value propositions like wireless control, energy-savings, and scheduling. More importantly, it was easier to use than your classic Honeywell thermostat, and didn’t introduce as much complexity as competing devices. Read More