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[3136.16 --> 3149.54] So, they've sent warning letters to these companies writing that statements that consumers must use specified parts or service providers to keep their warranties is actually illegal. |
[3149.62 --> 3150.94] And it has been since 1975. |
[3151.74 --> 3156.50] And we've kind of always sort of known this, to be completely honest. |
[3156.54 --> 3157.10] I didn't. |
[3157.10 --> 3158.10] Okay, okay. |
[3158.58 --> 3160.96] But it's been so, ah, okay. |
[3161.20 --> 3162.82] Maybe I shouldn't say we have. |
[3162.98 --> 3167.66] But, like, a lot of people have been on this side and kind of known this for a long time. |
[3168.10 --> 3173.52] But, that being said, because there hasn't been a big public statement that's super easy to point at like this. |
[3173.86 --> 3176.06] There is, you can point at, like, really old laws and whatever. |
[3176.06 --> 3181.66] But, most companies just act on the idea that it is enforceable. |
[3181.92 --> 3187.28] So, we'll make it a nightmare to actually get your stuff repaired to the point where it's not worth it. |
[3187.78 --> 3198.44] I think even if the case was that, like, you know, I'm going to take the sticker off and there's nothing the company can do and they're going to have to honor the warranty anyway. |
[3199.02 --> 3205.72] Just the fact that they have the sticker on there and are deterring a large part of the population, even that is getting cracked down on right now. |
[3205.72 --> 3206.42] Which is good. |
[3206.66 --> 3211.70] Because that sticker, like, you're right, deters a huge percentage of the population, basically almost everyone. |
[3212.04 --> 3215.76] And then, even if it doesn't, like, I love breaking those stickers. |
[3216.24 --> 3221.62] If I did want a warranty repair for something that I broke the sticker on, it would be a nightmare. |
[3221.92 --> 3223.62] And probably not worth my time. |
[3223.72 --> 3225.18] And it would probably never end up happening. |
[3225.34 --> 3229.26] And to get it fixed, I'd probably have to take them to court, which is not going to be worth it. |
[3229.50 --> 3231.70] So, this being enacted is awesome. |
[3231.84 --> 3232.26] I love it. |
[3232.32 --> 3232.70] It's great. |
[3232.80 --> 3233.24] This is good. |
[3233.24 --> 3240.84] One quote that I like here is from Thomas B. Paul, acting director of the FTC's Bureau of Consumer Protection. |
[3241.00 --> 3248.98] He said, provisions that tie warranty coverage to the use of particular products or services harm both consumers who pay more for them, |
[3249.08 --> 3253.10] as well as the small businesses who offer competing products and services. |
[3253.10 --> 3261.04] You know, like, if there's a, say, a Mac store that's not Mac certified, but the people there, they know how to fix them. |
[3261.84 --> 3264.24] Those people should be able to start businesses and fix up these computers. |
[3264.70 --> 3264.82] Yeah. |
[3265.40 --> 3266.42] I completely agree. |
[3266.50 --> 3267.16] The right to repair. |
[3267.42 --> 3267.78] You know? |
[3268.34 --> 3270.14] Let's not waste as much stuff. |
[3270.74 --> 3271.70] Sounds good to me. |
[3272.70 --> 3273.26] HomePod. |
[3273.26 --> 3273.70] HomePod. |
[3275.62 --> 3276.06] HomePod. |
[3276.12 --> 3276.34] Okay. |
[3276.34 --> 3277.28] No, I mean, like, let's do that one next. |
[3277.28 --> 3277.66] No, I know. |
[3277.78 --> 3278.36] Let's do it. |
[3278.42 --> 3278.86] I'm down. |
[3280.12 --> 3281.58] This is interesting. |
[3281.84 --> 3282.60] Apple hasn't been... |
[3282.60 --> 3287.00] What's the last thing that Apple released that was a new product? |
[3288.42 --> 3288.66] AirPods? |
[3289.98 --> 3290.34] Okay. |
[3290.52 --> 3290.74] Yeah. |
[3290.90 --> 3292.00] No, you got me immediately. |
[3292.28 --> 3293.80] Well, that goes out the window. |
[3294.24 --> 3297.54] I was thinking, like, their watch hasn't done very well. |
[3297.90 --> 3299.40] Their HomePod now hasn't done very well. |
[3299.46 --> 3299.92] But you're right. |
[3300.08 --> 3301.00] AirPods have done great. |
[3301.12 --> 3301.48] But they're... |
[3301.48 --> 3301.70] Okay. |
[3301.86 --> 3303.00] They are still just headphones. |
[3303.14 --> 3304.00] Well, the watch gained steam. |
[3304.76 --> 3305.64] Has gained steam. |
[3305.64 --> 3306.26] Gained steam? |
[3306.36 --> 3306.70] It has? |
[3306.88 --> 3307.34] Yeah, yeah. |
[3307.48 --> 3307.70] Okay. |
[3307.84 --> 3309.56] Everyone knows it's the best smartwatch out there. |
[3309.58 --> 3310.40] I mean, it's not saying a lot. |
[3310.40 --> 3310.64] Okay. |
[3310.64 --> 3311.68] But do people care about... |
[3311.68 --> 3312.14] Yeah, exactly. |
[3312.24 --> 3313.44] Do people care about smartwatches? |
[3313.54 --> 3313.76] No, no. |
[3313.82 --> 3316.44] The category is still pretty niche. |
[3317.24 --> 3319.10] So here's the story with the HomePods. |
[3319.10 --> 3322.32] But when they was... |
[3322.32 --> 3329.32] When the pre-orders went out that weekend, the sales of the pre-orders there for the HomePod |
[3329.32 --> 3332.90] accounted for 73% of all smart speaker sales that weekend. |
[3332.90 --> 3338.08] And for the first month, I believe it was 10% of the market. |
[3338.92 --> 3344.02] Basically, the market share of HomePod relative to other smart speakers like the Amazon Echo |
[3344.02 --> 3349.26] and Google Home is abysmal and shrinking at a depressing rate. |
[3351.34 --> 3353.50] At first, it looked like the HomePod might be a hit. |
[3353.60 --> 3354.36] Pre-orders were strong. |
[3354.44 --> 3358.92] And in the last week of January, it grabbed about a third of the US smart speaker market |
[3358.92 --> 3359.98] in unit sales. |
[3359.98 --> 3363.52] But by the time HomePod arrived in stores, sales were tanking. |
[3363.98 --> 3367.38] During the first 10 weeks, they had 10% of the smart speaker market. |
[3367.38 --> 3372.06] But three weeks after launch, sales slipped to about 4%. |
[3372.06 --> 3375.56] It didn't help that they missed the entire holiday season. |
[3376.12 --> 3380.44] And that when they did ship, they were missing two critical features that they're going to |
[3380.44 --> 3384.74] have to wait for Apple Airplay 2 before they have, which is going to be like July or something. |
[3385.52 --> 3391.60] All that notwithstanding, the end result here is that Apple has actually slashed the quantity |
[3391.60 --> 3393.68] that they're ordering from their suppliers now. |
[3393.86 --> 3396.78] From 500,000 units to 200,000 units. |
[3397.38 --> 3403.00] And the people who are working, like anecdotally, I guess, the employees at Apple stores are |
[3403.00 --> 3405.64] saying that like, yeah, we sell like 10 of these a day. |
[3406.04 --> 3407.88] Like they're not really flying off the shelf. |
[3408.52 --> 3413.40] Which is interesting because at quite a few stores, 10 a day would be pretty good. |
[3413.56 --> 3414.56] So I don't know what... |
[3414.56 --> 3415.30] Yeah, who said that? |
[3415.36 --> 3419.56] Because if that was at Pacific Center, like in Vancouver, it's like, damn. |
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