What do you think of Google’s acquisition of Nest?

Ben Rubenstein Profile: Ben Rubenstein
Tags:
Google
Internet of Things
Google bought connected device company Nest for $3.2 billion this week. Think it's a good buy?

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  • jcoyle
    Home automation and management is so important for Google's quest to be top of mind at work, on devices and in the house.

    Everyone has a thermostat and smoke detector and attaching these 'things' to the home network and Internet is an opportunity for data analysis for Google.  

    The Nest brand is fantastic.  Everyone loves their products and they are willing to pay more for the premium products.

    The potential for Google to aggregate my home's data and assess energy waste, program my house to be efficient, suggest potential problems, and give me around the clock monitoring is pretty compelling.  If they were to get into refrigeration, inventory management solutions, rfid tagging and the like, they would be the market leader overnight.

    I can't speak to the price, but the value of the 'Internet of Things' market was recently estimated at > $14 trillion over the next decade.    $3.2b for a rock-solid brand and instant entree to the market seems like a winner.
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  • jcoyle
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  • Ben Rubenstein
    Totally agree on the business potential for Google. The question a lot of people are asking, though, is whether we should be concerned from a data privacy standpoint (is this giving Google too much info on what's happening inside our homes). Personally I think it's a little weird to worry about it for this and not all the other smart devices we have and are building, but I can see the concern on a general level. 
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