A slumping RV industry has historically tracked with recessions, and some believe it to be a strong economic bellwether. The theory goes that buying an RV is one of the most crystallized examples of “having extra cash and feelin’ good.” It’s a solid hypothesis, though it’s probably not what’s more likely the cause this time.
Nearly $14 billion worth of Palantir shares have changed hands every day over the last five sessions, more than all but two stocks in American markets. The volume is not normal. Typically, there’s a correlation between a company’s market value and how much its shares trade at.
Andrew “Boz” Bosworth, the CTO of MetaMETA $698.30 (1.94%), says he knows where AppleAAPL $204.15 (1.64%) went wrong with its Vision Pro.
“From an engineering standpoint, it’s wonderful and congratulations to that team. From a product standpoint, you can tell it was their first offering in the space,” Bosworth said during an interview at Bloomberg’s Tech Summit Wednesday evening, adding that Meta too had an initial flop in the face computer space with its Ray-Ban Stories. “First-generation products are hard. It’s not until the second or third generation you really figure out and hone things.”
Both companies, of course — in addition to much of Silicon Valley — are competing in the same space.
Meta is so far the leader in the emerging arena of AI-enhanced face computers, having sold more than 2 million Ray-Ban glasses since they came out in 2023. Apple is aiming to release its version of AI glasses at the end of 2026. Meta also makes the Quest headset, a $300 product that has been much more popular than Apple’s Vision Pro, which clocks in at $3,500 and has failed to catch on commercially. The Wall Street Journal reported yesterday that Meta is working on a new, more expensive headset, code-named Loma, that will cost under $1,000.
“They made a lot of mistakes in terms of weight and where the weight was — there’s this glass piece way out off the nose,” Bosworth said of Apple’s Vision Pro. “ I think it failed what the market wanted for reasons that were predictable if you were in the space beforehand.”