Eric Migicovsky, a co-founder of the now-defunct smartwatch company, writing about why his company failed:
I struggled over and over to define a strong long term vision for what Pebble as a company would accomplish. In some ways we were spoiled…when our Kickstarter in 2012 was super successful, we never had to go through the exhausting process of iterating on sales techniques to acquire customers. We had crystal clear marching orders in 2012: build exactly what we had promised our backers and make it as high quality as possible. That’s what we did in 2012–2014…we just built great smartwatches that we ourselves (young hackers) wanted to use. After Pebble Steel in 2014, we came up for air and found ourselves in a more competitive space. As discussed above, we attempted to expand into a new market, and failed.
The entire piece is great. Migicovsky is refreshingly honest about where Pebble — and he as its leader — went wrong.