Specs' $2,195 augmented reality glasses are officially here. 👓 Designed as a wearable computer, Snapchat CEO Evan Spiegel says they're "one of the richest and most immersive visual experiences today." Snapchat's stock was up nearly 4% at open on Thursday, the day of the product release, and closed at -0.88%. Explore more premium news and analysis on Snapchat in AlphaSpace:

Snap’s stock fell by 9% after the company unveiled its extremely expensive reality glasses, called Specs, which are priced at $2,195, and customers who want to reserve first pay a $200 deposit. Despite the market reaction, CEO Evan Spiegel defended the launch. “While investors may want more short-term profitability, our job at Snap is to drive long-term profitability and the long-term success of the company.”

Rewatch. Alittle too overstuffed with plot, stodgy CG in spots and characters but the action is sensational with some heavy themes, great performances by RDJ, Evan’s, Stan and a movie stealing Boseman. 4.5/5

"Where are we in the innovation cycle for AI-native robots? Have we already had our ChatGPT moment? Is it ready for production?" That's what Primary GP @JasonrShuman asked our CEO @EvanBeard in front of hundreds of people at Primary's NYC Tech Summit yesterday in Manhattan. It's also a question we hear from industry leaders constantly. Evan's answer: "We're deploying AI in factories every day, it's already happening. AI-native robots can handle variability that legacy robots never could: the part is different, or it's in a different place or different orientation. This has been the biggest barrier of entry for robots to date, they couldn't do anything unless the setup was perfect every time. Now it's a self-driving robot that can pick up any part you want in any location or orientation, autonomously. But there's no single moment. Capabilities keep compounding, and adoption keeps accelerating, until there's an ineffable tipping point that everyone recognizes to be true. We're not there yet, but we're approaching it quickly, probably within the next 6-12 months. It's also worth noting that ChatGPT didn't need to build a new platform to distribute its product. It scaled on the web and phones everyone already has. Physical AI needs to build out its deployment infrastructure, the robots. Legacy robots weren't designed for AI, so everything has to be rewritten from the ground up. But the transition to physical AI has begun, and we're leading the wave to build out not only the frontier models but also the hardware platform that it will all run on.”