Iterate Weekly - Issue 130
This week we're talking about frictionless payments with Amazon, colleges in danger of closing, 3D-printed salmon, Meta can't even give away VR headsets, and TMNT Mutant Mayhem!
Welcome to issue 130 of Iterate Weekly!
Hope you’re all doing well. This is just a friendly reminder that you can always reply directly to these messages or leave a comment on the Substack post. Feedback is highly encouraged and I’m happy to answer any and all questions that come up.
Let’s jump into this week’s stories.
🤖 Tech
Amazon really wants you to just walk out
Amazon is getting closer and closer to creating a retail environment with zero friction. Plenty of people have their opinions on the tech/retail giant, but there is no questioning how innovative they’ve been to get people to open their wallets…or actually not open them at all in this case.
Amazon’s “Just Walk Out” initiative is adding new RFID technology to let people walk our of stores without paying, even if they’re wearing the clothes they want to buy.
Finally, Cosmo Kramer/Jay Peterman can wear the very pants they were returning and just walk out of the dressing room and out of the store in their new threads!
It may take a little while for this technology to catch on but many retailers are already using some form of RFID tag to maintain their inventory. If there is a low barrier to entry, there is no telling how many stores Amazon could convince to use the new system. It should mean an easier experience for the shopper, less work for the retailer, and ultimately more sales and profit.
This new system has been tested out in Seattle-area sporting venues which seems perfect. No one wants to wait in line and miss game action when they buy a jersey during halftime. And people tend to be more spontaneous with the purchases when at fun events like concerts and sporting matches. It’s the perfect environment to just grab or wear an item and walk out of the store.
With only 70 “Just Walk Out” stores in operation globally right now, I’m sure it’s only a matter of time until this form of retail becomes as ubiquitous as a regular online order.
🎓 Education/Productivity/Work
How many colleges are in danger of closing?
Higher education is struggling these days. The student loan debt saga has been ongoing now for a few years and potential students are thinking long and hard about the costs involved in attending college.
And on the flip side, many schools are trying to figure out how to stay afloat amid a a growing concern about kids opting out of the whole college experience. It begs the question, how many colleges are in danger of closing?
The number could be a lot higher than you think. Small private colleges seem to be those who are at the greatest risk of closing. If a school doesn’t have the most prestigious name in the recruiting process, it’s obviously at a disadvantage. And the pull to attract students in more out of the way locations could be even tougher.
Some schools have looked for merger opportunities with nearby universities who may have larger endowments. Schools with enrollments south of 2,000 students seem to have the lowest chances of weathering this storm. If a merger opportunity isn’t available, schools can cut costs to buy themselves more time but it can be a vicious cycle. Pulling money from programs and operations is hardly a good way to entice new students.
We could see a substantial uptick in college closures in the next few years as changes fueled by the pandemic play out.
Maybe the question isn’t how many schools will close but how many colleges and universities does a region actually need?
♻️ Health & Environment
3D-printed salmon is here!
3D-printed anything still gets me excited! I know the technology has been around now for a while but watching something slowly come to life in a 3D printer is mesmerizing. And it’s even more amazing when that something is edible!
Maybe the market for vegan salmon isn’t all that large, but a company called Revo Foods has figured out a way to make 3D-printed salmon.
The product is called “THE FILET” (clever) and is actually made from a concoction of fungi and is still jam-packed with almost as many nutrients as the actual fish. Revo even claims that it is a complete protein featuring all of the amino acids which is actually quite a feat in the world of vegan meat.
Using Omega-3, all 9 essential amino acids, and Vitamins A, B2, B3, B6, B12, and D2, THE FILET sees no sugar, gluten or cholesterol, and embodies an authentic, meat-like texture due to its mycoprotein
All of those vitamins with no sugar or gluten is somewhat impressive. I wouldn’t imagine it to have much sugar and since it doesn’t come from a real animal, it would be expected to be cholesterol free.
I don’t know, I haven’t tried it so I can’t really give a full opinion yet. Right now THE FILET is only available in Austria and Germany but it seems likely to spread globally if it catches on. Here’s a video that gives a little more insight into how the product is made:
Anyone else willing to give it a try?
🛍 Grab Bag
Meta can’t even give away VR headsets
Things are looking pretty grim for Meta’s VR headset business.
It’s been reported that sales of their Meta Quest Pro have been so horrible, that they’re trying to give away unsold inventory at conferences.
As someone who has generally enjoyed using his own Meta Quest 2 headset, I’m somewhat surprised by the low sales numbers. I guess the higher price of the Pro is just too much for the casual gamer/VR-curious consumer to handle. But even after dropping the costs from $1,500 to $999 sales haven’t seemed to improve.
Could it be just the price and positioning of this particular product or is this indicative of an industry trend? Are people really just holding out for Apple’s upcoming product which is way more expensive? Do people still just see VR/AR devices as toys that shouldn’t cost more than a few hundred bucks? I think so.
I’m pulling for all VR brands to survive but nothing that Meta does seems to be working lately. From all reports, the technology used on their headsets seem solid, but there just isn’t a killer app or marketing push that seems to be capturing people’s attention. Maybe if they slice the price of the Pro again down to $499 and give it a big holiday marketing blitz? Personally, that might get be to trade up from my previous device but maybe I’m a unique use case.
Maybe just buy a ticket to the next tech conference in your area and cross your fingers that you’ll get one for free!
💬 Quote of the Week
"My favourite poem is the one that starts 'Thirty days hath September' because it actually tells you something."
-Groucho Marx
📽Content Review
Teenage Mutant Ninja Turtles Mutant Mayhem
This week I checked out a fun little animated romp that exceeded my expectations!
“Teenage Mutant Ninja Turtles: Mutant Mayhem” came and went this summer movie season without much fanfare. It obviously was overshadowed by “Barbie” and “Oppenheimer” and even upstaged by fellow 80s throwback “Super Mario Brothers”.
Maybe it was poor timing or the lack of promotion by the large list of A-list celebrities due to the strike, but this movie didn’t get the push it deserved. Yes, it’s a kids movie but there are plenty of callouts that the parents will love. The animation style combines comic book illustration with beautiful CGI effects. And it is filled with humor from the solid ensemble cast. Most of the heavy lifting is done by the teenage voice actors who play the protagonists, but Jackie Chan, Seth Rogen, Ice Cube and even a small stand-out role for Post Malone were welcome surprises.
Whether you were a fan of Ninja Turtles in the 80s or not, this movie is worth checking out. No spoilers here, but I wouldn’t be surprised at all if this sets up a whole new Turtle universe of future movies.
Thanks for reading, I’ll see you next week!
Hey! Could you use some help establishing healthy habits? Do you have a big project or new business that you want to get off the ground but could use some advice? Maybe you could benefit from hiring me as your coach. If you’re interested, read more about my coaching services here, or go ahead and book some time on my calendar to discuss further.
Iterate is free today. But if you enjoyed this post, you should let me know that this writing is valuable by pledging a future subscription. You won't be charged unless I enable payments at some point in the future. Think of it like an IOU in a tip jar.