Wednesday, November 4, 2015

Camera-On-A-Stick at all time lows


I have to admit, I have never even touched a financial statement by GoPro. I have no idea how they are doing, what's their market cap, revenue, margins or valuations.

All I know is that GoPro is a pretty good example of a business I would never invest in. Okay, it was a pretty good camera on a stick when it first came out. Now what?

How many cameras can 1 person have? How many more cameras will someone buy?

I pretty much guessed their business was doomed when I saw China versions coming out. Not only did the China versions have better specs, they also had a much better price. All they lacked was the branding and the probably the nice UI. That was about a year ago. I am sure the difference in value is even more stark now, especially when the China brands get economics of scale and more recognition.

The ONLY people I see running around with GoPros are those extreme hardcore people. These are the people with thousand dollar bicycles or thousand dollar dive watches, either or, or even both. The are ALL into photography and own at least one DSLR. It's not to say anything bad about these kind of people. Geez, I know quite a number of people that fit that profile and run around with a GoPro on their head. My point is HOW MANY of these kind of people are there? And how many more GoPros are they going to buy?

I have to admit, I was ever once tempted into buying a GoPro when my friend was showing his off to me. But after I found out the price for this really expensive selfie camera on a stick, I couldn't hold that thought anymore because I shat myself and I had to go and clean up.

They've stuck it on top of helmets and all over the body on different types of harnesses. They have stuck it on pretty much any moving thing, organic or inorganic. They have all sorts of mounts and tripods and stands that you can think of.

It's a one-hit wonder. There is absolutely no innovation in their product. Small improvements, yeah. Break through innovations? Nope.

Is there anything left to stick a GoPro onto?

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