It's a reasonable perspective, and one a lot of my friends share. I guess I look at value/cost. I drive a $2,000 car and use a $1,000 phone because I get a lot of value for the extra $500 in the phone, but wouldn't get more value out of having a nicer car. Like you, I also find it nice to worry less about the car because the replacement cost is low.
But I view the value of smart watches in the $100,000+s if not $1M+s. How much is your health worth? How much is it worth to passively keep an eye on your heart rate, and stress levels, and oxygen levels, and sleep levels? Granted, I still think it is very early for smart watches, and the value we are getting now is ~1% of the value we will be getting from them in 5-10 years (if they aren't replaced by a "smart tooth" or "smart necklace" etc). But I think at this point the value is definitely there and easily worth 10x+ the cost.
Making a single actionable decision based on data received from a wearable could have a life changing impact.
And again, speaking in probabilities here, and it depends if you look at the data and adjust your life based on it, but I think expected value of these is huge, and probably the best single health measure anyone can take.
I would say try the cheap one, and think about upgrading if you like it.
I think your last line is key to why a low price is a good idea. As someone who did a lot of research before buying my first smartwatch, I found it difficult to actually estimate how much benefit I would get from owning a smartwatch. What this essentially does is lower the barrier of entry. Now, a prospective buyer doesn't have to see much benefit to take a chance on buying the product.
Yes, and I realize that maybe my comment about Wyze is harsh——I think it is a FANTASTIC thing that more companies are making these things (and getting the price down!). I just think from a business point of view the smart watch business is all about the top end, because the real estate is so valuable, literally on top of someone 24/7, that the focus should be on how much value can you deliver to that person, and target a 1% of their income price point (hopefully delivering a much greater benefit than 1%). But absolutely, this is an awesome development, to have a $20 smart watch, and I agree if Wyze is getting more people wearing these things, that will be a huge win for the world.
> How much is it worth to passively keep an eye on your heart rate, and stress levels, and oxygen levels, and sleep levels
For me, zero? Or close to it. I can't imagine obsessing about this stuff. I think it would cause me more stress than it would help. That's to say nothing about the privacy issues.
But I view the value of smart watches in the $100,000+s if not $1M+s. How much is your health worth? How much is it worth to passively keep an eye on your heart rate, and stress levels, and oxygen levels, and sleep levels? Granted, I still think it is very early for smart watches, and the value we are getting now is ~1% of the value we will be getting from them in 5-10 years (if they aren't replaced by a "smart tooth" or "smart necklace" etc). But I think at this point the value is definitely there and easily worth 10x+ the cost.
Making a single actionable decision based on data received from a wearable could have a life changing impact.
And again, speaking in probabilities here, and it depends if you look at the data and adjust your life based on it, but I think expected value of these is huge, and probably the best single health measure anyone can take.
I would say try the cheap one, and think about upgrading if you like it.