Humane’s AI Pins just aren’t selling

Humane, an AI-device startup founded by two former Apple employees, is like an Alaskan hiker lost in the woods in the middle of the winter – not doing too hot.

The startup, which has raised $240 million to date, released its first product, the infamous AI Pin, in April. And things went south quickly. Between May and August, more AI Pins were returned than purchased, according to internal sales data newly obtained by The Verge.

• The AI Pin, meant to be worn on a user’s lapel, costs $699 and requires a $24/month subscription for cloud storage, cellular data, and a “phone” number.
• It promises numerous features, including an AI voice assistant, camera, and laser projector – but if user reviews are any indication, Humane whiffed bigger than Bartolo Colon.

The reviews were…bad. Popular YouTuber Marques Brownlee called the Pin "the worst product I've ever reviewed." The Verge described it as "totally broken." The NY Times said it has "glaring flaws," including "off-putting responses" to questions.

By the numbers: Humane was reportedly projecting to sell 100,000 AI Pins in the year following its release. To date, ~10,000 Pins have been shipped – and 3,000 of these have already been returned, per The Verge.

👀 Looking ahead… All things considered, many investors believe the humane thing is to put Humane down. The startup has reportedly reached out to HP about a possible acquisition and hired an investment bank to help it manage acquisition discussions.