Source: Bloomberg (paywall)
Meta has leapfrogged Apple in the spatial computing race by shipping a lighter, cheaper alternative while Apple's internal team struggles to justify a second-generation Vision Pro. The competitive threat isn't feature parity but narrative: Meta is winning adoption by iterating on an accessible product, whereas Apple's hesitation about the Vision Pro indicates doubt about whether a $3,500 headset market exists at scale. Apple is losing to execution speed and product-market fit—the exact leverage that built its iPhone dominance—not to technical superiority.