I believe I have identified the one thing in tech that is incontrovertibly in a bubble. To know whether a product or startup is in this category—which I’m confident will see a shakeout leaving few standing—just look for this phrase in their marketing materials: “The world’s first smart...”

The world’s first smart socks. The world’s first smart toothbrush. The world’s first smart plate, cup, fork, cutting board, stove knob, jump rope, shoes, shirt, aquarium, frying pan. The world’s first smart detector of the gas that we pass.

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