The technological wave so expertly surfed by Apple is also beginning to propel a whole new generation of gadget startups.
According Recode, the home electronics startup Nest has raised more than $150 million at a $2 billion valuation. That's good news not just for Palo Alto-based Nest but for a whole new crop of companies angling to produce digital devices that are small, wirelessly connected, and easy to use.
Apple has been the most adroit at exploiting the rapid miniaturization of computer tech and plummeting component costs, producing the iPod, the iPhone, and the iPad. For a while there, it looked like the company might steamroll all comers -- like there would be no need to buy a FitBit because you already have a pedometer built into your iPhone, no need for a games console because you already have decent games on the iPad, and no need for specialized digital photo display because you already have an Apple TV.
But we're beginning to see that the very trends that helped Apple stage a remarkable turnaround are also empowering its competitors and emulators. Nest, started by former Apple iPod whiz Tony Faddell, has honed in on products apparently too placid for Apple: thermostats and smoke detectors.
Unlike traditional thermostats, Nest's flagship product can be controlled over the internet, and perhaps more impressively, it learns from your behavior patterns and adjust itself accordingly. The smoke and carbon monoxide detector sold by the company, known as the Protect, is gentle about low-battery warnings and smart about distinguishing smoke from steam.
Nest isn't the only company going after iBuyers. There's SmartThings, which raised $12.5 million in November for its intelligent lights and locks platform. That was the same week that investors put $12 million into Arrayent, which wants to help smart-ify washing machines and refrigerators.
Apple is no longer alone.
