A $3.2 billion* thermostat....

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Something is not right. Obviously a thermostat cannot cost a tiny fraction of that, nor do they have a market share worth anything like it.

Not that I have much hope we will ever know what is going on, that is.


------------------------------------------------------ Dimiter Popoff, TGI

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Complete insanity - Nest has a pretty round thermostat thingy and a CO sensor. I couldn't (in the time I was prepared to spend) find an accurate figure for turnover but I found this from Jan 13:

"According to GigaOm's sources, Nest is worth the high valuation, especially considering its shipping somewhere between 40,000 to 50,000 units per month. While shipments do not necessarily equate with sales, it's unlikely Nest would be producing units at such a speedy clip if it wasn't selling at least a decent share of them--in other words, it's doubtful Nest could afford to have so many units sitting in a warehouse somewhere. Imagining Nest was selling somewhere in the vicinity of

40,000 units per month, at that pace and at $249 per unit, Nest would be seeing roughly $119 million in annual revenue, if our back of the envelope math is correct."

At this time the stock market valuation was $800M. Utter dotcom bubble insanity - a one product company values at 8 (or perhaps now 32) x it's turnover.

I think I'm hoping that Honeywell's patent suit will actually succeed.

Michael Kellett

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yes. google.

Bye Jack

Yoda of Borg am I! Assimilated shall you be! Futile resistance is, hmm?
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We had one installed when the new AC unit went in. It's just a geek gadget. It does not learn your living habits as they advertise. Granted it might work a little better in a house where everyone leaves at the same time every day and comes home at the same time everyday. I do not have it "wifi enabled" so I can control it from far away (or the power company can monitor and control).

One thing I do like about it is the combo heat/cool mode. Set the temp you want and it will either trigger heat or cool. Other thermostats may do that now but the last digital programmable we had still had a heat mode and a cool mode, not set and forget.

I have been told B&B and vacation home managers like them because they can set the temps remotely on Friday before people start showing up for the weekend. Saves them a lot of time instead of having to drive to each location.

All in all, a very expensive gadget we could have done without. Google see's an ad revenue buy. To use it remotely you will now have to have a google account. Maybe they will offer a rebate if you set up a google account. Then buried in the fine print will be google's ability to sell the usage data to marketing firms. Of course the EPA will demand and gladly be given access to the data.

Republic of Texas
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Joe Chisolm

I surprised Google's motivations are being questioned. Google is clearly trying to become globally pervasive in all aspects of human life. They want to map the world, physically and socially. Thermostats are one way for Google "get into your home".

The huge price doesn't reflect the present market of thermostats. It reflects Google's valuation of the potential market coupled with the presently non-public technology from Nest Labs, whatever that may be.


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John Speth

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