Humane, the creator of the $700 Ai Pin, is reportedly seeking a buyer

**Jaeden Schafer** (0:00)
Yeah, it's usually like they try to get you like a gift card, or they're like, hey, can you send me your phone number? I'm gonna call you real quick. And then you send them their phone number, and they're like, they just like stole your phone number, and now they know you and your phone number.

**SPEAKER_2** (0:10)
I got one this week. It was like, hey, I'm in an executive meeting right now. Send me this thing quick.
You would never say like, in an executive meeting right now. Like, it's so dumb.

**Jaeden Schafer** (0:25)
That's hilarious. Okay, so I think, yeah, anyways, I think being able to click on the links so that you have me to click on the link, that's a cool service. I think it'll make some money. I'm curious, you know, what they're gonna do with $40 million, but very interesting. Okay, the next thing that I've been seeing that's absolutely insane, the Humane Ai Pin, I'm sure you've seen it, right? It's like that magnet that clips onto your shirt and it's got like a little camera on it and it looks at everything and about completely...

**SPEAKER_2** (0:51)
Scam. Wait, this is the Rabbit one, right?

**Jaeden Schafer** (0:55)
So Rabbit was the next device that got roasted by Marcus Brownlee. The first one was the Humane Pin. So the Humane Pin, $700, and it does pretty much the same thing as the Rabbit, but it's like clipped onto your shirt. The problem is the battery life's only like three or four hours on it, so it's like you're gonna keep recharging this thing every three or four hours, doesn't make a lot of sense. And also because of the way that the battery magnet's onto the back of it, it heats up and gets like hot on you, so it's like...
People did not have good reviews for this thing, but it is apparently seeking a buyer right now. They're looking for someone to buy them out. This was a super hyped up company. They are apparently pricing themselves between being worth 750 million and a billion dollars.
And this is from some sources from Bloomberg. Do you think they can sell their company for a billion dollars?

**SPEAKER_2** (1:49)
So it's software, it's hardware that you wear that you use, like a clothes model of AI.

**Jaeden Schafer** (1:56)
Yeah, so I mean, it runs, I think it might even be connected to the internet, but it's gonna be running using like ChatGPT to run it. But it's just like a pin that you wear on your shirt.
And it's got a camera on it. They can see everything that's going on. It has like the projector thing.

**SPEAKER_2** (2:10)
Got the projector, yeah.
Okay, I remember this now. Yeah, I mean, we were talking about this earlier about like the, that's like the end vision, right?

**Jaeden Schafer** (2:21)
Yeah.

**SPEAKER_2** (2:22)
So they're probably hoping to like just be the first. It's kind of like that, how they say like sometimes being first is better than being better. Like first sometimes with wins.
I don't know, dude, they're trying to sell this kind of a red flag, right? You don't really want to say that you're trying to sell.

**Jaeden Schafer** (2:37)
So last year they raised money and the information reported that their valuation was 850 million at their last raise. So now apparently they're looking to sell for 750 million to a billion. So it's a discount from a whole year ago's raise. And when they did that raise, they were pre-launched. They hadn't even launched anything yet. So now they've actually launched and they're taking a discount. This is, in my opinion, not looking like a good...
Yeah, that's really a red flag. That's not a good sign.

**SPEAKER_2** (3:04)
But still that's pretty sweet for the founders. Like imagine being in a place where like, maybe realistically, maybe not, you're trying to sell your thing for $850 million two years after starting to roll it.

**Jaeden Schafer** (3:15)
They started it in 2017

**SPEAKER_2** (3:17)
Oh, okay, bad. Snow, bad, bad.

**Jaeden Schafer** (3:22)
Seven years, $1 billion, bad.

**SPEAKER_2** (3:24)
If they sell, I mean, that's crazy they were building this so long ago though, before AI was cool, you know.
Wait, what's the... And you know, do you think they're gonna sell?

**Jaeden Schafer** (3:34)
I think they're gonna try. I'd be curious to see what happens. I'd be blown away to see if anyone buys it. So here's the thing.
The pin looks like a slick design. It's a...
I think it's a cool concept. I know a lot of people give it like a lot of flack and say it's like glitchy and buggy. It's like, okay, but like glitches and bugs, like you can fix those. Those aren't like, you know, deal breakers. Like if you think about like the first Oculus headset, when Oculus sold to Meta, it had like a lot of issues. It was like a developer thing. It would overheat. It had a short battery life. Honestly, it had almost all the same problems. Meta bought it for like...