A letter from the founders, what to expect in 2024

I love this letter!

Anyone have any ideas of what “Unique” things could be done?

THANK YOU! :tada: I mean, I love cameras…but already I have 40+ cameras…and there is only so much you can do with a camera by itself…

The following is the most exciting thing to me:

YES! I love this new Blue Ocean Strategy outlook! Wyze has done a really great job with their “Red Ocean Strategy” (taking something that already exists and doing it better in some way to disrupt and gain market share, including better prices, new features, etc…they call it red ocean, because that market is already full of tons of sharks all fighting over a tiny share of the same market)…a really great job IMO…to the point where other competitors have come out to copy them or try to make “Wyze Killers” and Wyze has definitely driven the market in positive directions that everyone has benefited from…they take things that exist and go in and disrupt the market with better supply chain and low profit margins to make everything really affordable and then add a ton more extra customizations with their own firmware, sometimes new features, etc. I have always loved this about Wyze. I have always known that I can buy basically anything from Wyze and know I’m not getting ripped off with huge profit margins. Wyze has starting doing a ton more R&D in the last 1-2 years making more unique stuff lately that isn’t just ODM, but fairly unique product design partnerships, but even that has still mostly been red ocean markets. I love hearing in this that Wyze is branching out to dabble in some BLUE OCEAN STRATEGY (completely new things and new markets without other competing sharks right away because they will have new unique options that others don’t [yet]). That is really exciting and something I have been hoping Wyze would mature into, and it sounds like they are getting there now! This new Blue Ocean Era for Wyze could be awesome! It also stands to give them a HUGE edge for growth! I’ve been wanting to encourage them to look more into Blue Ocean Strategies, and it looks like they’re going to start doing this! Very exciting new Era for Wyze!

It’s hard to guess at what kinds of things they are considering, though since they said they are looking to do a lot with AI, maybe some new stuff with AI? That could be anything. The only item they’ve hinted about recently is the “Chore Robot”:

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That is years away, but still cool! I wonder what might come up sooner.

I am excited they mentioned that they will be improving “automation” with AI, because there is only so much you can do with a camera recording or detection if you can’t have it help with advanced automations. So, I am pleased to hear that they will be working to improve this.

This is interesting wording. I would like to tell Wyze that if they truly want to “democratize” their platform a lot better, they could publish an official documentation with a public API and let the “community” of developers create a TON of vast and useful stuff for them…for FREE…decided by their fans who put in time and effort to build useful stuff…just saying…I can’t resist throwing out this reminder about “democratizing” applications in the smart home. :slight_smile:

I do like this. I would definitely much prefer that Wyze starts to pump their OWN money back into the company to fuel growth and UX instead of seeking out investors and bank loans. I am glad this is on the right longterm sustainable path.

I am excited about the hints toward making new things that don’t even exist in the market yet. :heart_eyes: And what you have in store for AI 2.0 and improved automations.

This is a great vision! At the end of next year I’ll probably be asking you in an AMA how you think it went with all of this :joy:

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