Startup Humane faces $1 million in AI Pin device returns, struggles with refurbishing or recycling, and faces executive team turnover.
Humane, a startup founded by former Apple employees, has faced significant challenges with its AI Pin wearable device. Internal sales data reveals that more AI Pins were returned to the company than purchased between May and August, with nearly $1 million worth of product returned. The company has reportedly encountered difficulties in refurbishing or recycling returned devices and has experienced a revolving door in its executive team. Despite these challenges, Humane co-founders claim the team is actively working on refining the device's software and adding improvements on a weekly basis. The company is also negotiating with investors to raise their debt, which would be turned into equity.
August 07, 2024
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