I've been seeing the Fitbit wristbands everywhere except maybe on my own wrist. I guess I'm just not in the mood to get very "fit." But I am interested in these kinds of things, and I wonder what the shelf life for Fitbit actually is. I mean, technology lives and dies seemingly within a year (anyone remember the Zune?). Apple has the Apple Watch now which does everything that the Fitbit does. And well, it's Apple, which is a juggernaut in anything it dips its fingers into.
I wonder if Fitbit will end up being like Motorolla. Motorolla was the pre-eminent manufacturer of cell phones in the late 90's. I remember the flip-style phone called the Motorolla Razor, which everyone just had to have because it was so thin. Then Apple put out its iPhone and destroyed Nokia, Motorolla, and Blackberry like they were nothing.
Maybe Fitbit will survive among those who just hate Apple and/or who don't want to spend all the money to procure an Apple Watch. In that case, my prediction for the stock will be for it to go public, quickly double before trade even opens up, and then the founders of the company (once the moratorium on selling stock passes) will be able to sell all their stock dumping it out onto the market to make themselves billionaires. And then Fitbit will slowly decline as people realize all the smart money pumped and dumped and then fled a sinking ship.
As a side note I wish I could come up with an idea, go public with it, and then get all my money out of it by dumping it on unsuspecting investors before it goes bust. Sure, I'd be a sleazeball capitalist, but I really wouldn't care driving around in my 30 sports cars.
But I could always be wrong. Anyone else own a Fitbit and care to educate me differently on how awesome it is and how it will be around for the next ten years? Only time will tell if the Fitbit IPO is the next Tesla, right?