Good morning. Word on the street is that Snapchat-maker Snap seeks to raise $1 billion to double down on its Spectacles.
It’s not hard to imagine the urgency CEO Evan Spiegel must feel. The L.A. company made a big bet on augmented reality glasses way back in 2016; today it’s working on its sixth generation—while drafting behind perpetual rival Meta as that company’s twist on Ray-Bans (b. 2021) consume a majority share in the category.
I know The Social Reckoning is already in production, but a plea to Aaron Sorkin: Can we get a flickfor this unending rivalry? Call it Social Anxiety.
Today’s tech news below. —Andrew Nusca
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