Reviews of Failed Tech Products that Prove they Were Doomed From The Start

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Reviews of Failed Tech Products that Prove they Were Doomed From The Start

By Joe Burgett - August 25, 2022

WeWork

Product Type: Co-Working Space (Virtual & Physical)

Oh, where do we start with WeWork? Basically, the company was started by Adam Neumann who seemed to be great at charming people into investing in his commercial real estate and shared workspace company. He somehow charmed them for a decade by giving them major projections. He even managed to sway SoftBank and others that WeWork was not just some real estate company. Oh no, it was a tech platform just like Uber or Airbnb. It was worth billions, he claimed. As he raised his money, he used a private jet to illegally transport cannabis too. The value randomly went from $47 billion to $8 billion by 2019. Now running out of cash, WeWork fired 2,400 employees and Adam left the company to get out while he could. WeWork still exists today but it is losing money more and more.

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Quibi

Product Type: Streaming Service

The idea for Quibi made “some” sense in theory. It revolved around short-form content that would ideally blend well into a world where people seemed compelled by 5-minute videos on YouTube. The issue is that for a paid streaming service, this does not make a lot of sense. It was started in August 2018 as “NewTV” initially and was led by founder Jeffrey Katzenberg and Meg Whitman as CEO. It even raised just under $2 billion from investors, so when it launched in April 2020, everyone seemed excited about its prospects. Yet it shut down by December 2020 and by January 2021, Quibi sold its entire library to Roku.

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The “Secret” Social Network

Product Type: Social Network

Back in 2014, a “Secret” social network popped up that people were initially very interested in. Secret showed you messages from your friends or even friends of friends, but no one was identified by their real name. This gave everyone a safe space to talk about some very problematic things that would get them kicked off of normal social networks. Secret managed to raise around $35 million after seeing 15 million users. Yet anonymity never really works out long-term. After all, this is the internet, people. The identities did not stay secret and this meant that the entire concept was moot. The co-founder pulled the plug and Secret became one of the most notable failed tech products in history.

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PalmPilot

Product Type: Personal Digital Assistant (PDA)

It is sort of wrong to say that the PalmPilot deserves to be among the failed tech products we listed here. Considering it actually did end up selling pretty well for Palm Inc. They were known for digital assistants that were quite helpful to people in businesses as well as your regular college student. They offered people a way to truly stay on task. PalmPilots were also not crazy expensive, which is probably why the company sold 1 million units by 1998. It then was succeded by Palm III that very same year yet Palm Inc. as a company began to go downhill as the PC and MAC markets began to grow. By the time early smartphones showed up, they were done.

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Nike FuelBand

Product Type: Wearable Technology

Nike has never really been known for making hardware or software products. However, if they were going to get into the tech world, the FuelBand was the way to do it. The Nike FuelBand was an activity tracker that measured one’s physical activity, steps taken, and the amount of energy one burned. The information was measured in “fuel points” and integrated into the Nike+ online community and application. It gave people a chance to keep track of their exercise progress while also helping others stick to their goals. The problem was that Nike, unwise to the tech world, did not comprehend the public’s interest in wearable tech. Plus, the Fitbit among others made competition difficult along with the fact that the Apple Watch launched shortly after.

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Google Glass

Product Type: Smart Glasses

At one point, Google marketed its Google Glass device like it was going to be the “next big thing.” In a way, it seemed like it could be. At a 2012 Google event, they showed a live stream of skydivers wearing the Google Glass in the air and as they landed on top of the convention center the event was held. This seemed awesome, but then Google being Google, freaked people out. Many did not know if the camera would stop or could be turned on by anyone at any time. Not to mention the idiocy of wearing glasses as “fashion” that isn’t protecting them from the sun. This became one of the most infamous failed tech products ever, but Google has since tried to make it work through the newer augmented reality sector. Therefore, they might not be gone just yet.

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Theranos

Product Type: Nonexistent

Theranos was built on the back of its CEO and Founder, Elizabeth Holmes. She is a sociopathic liar who duped investors out of millions. In fact, Theranos was once valued at $9 billion. What was Theranos? They were supposed to be a medical tech company that figured out a way to do blood tests that required very small amounts of blood to work. They would still be accurate and results would come back rapidly. Best of all, it was done using a small automated device. This was all BS, as it did not exist but Holmes managed to sucker $700 million from investors anyway. As a result, Holmes faced numerous lawsuits from the SEC, CMS, State Attorney General, her business partners, and many more. Holmes was found guilty of fraud and conspiracy on 4 counts in January 2022. She didn’t even pay her lawyers for months.

Where Do We Find this Stuff? Here Are Our Sources:

Wall Street Journal

New York Times

The Washington Post

The Verge

Vox Media

Amazon

Google

Apple

Microsoft

Meta

Nike