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I still don't think there is a practical use for a smart watch yet.
I think so too. I do think Iwatch is a stupid gimmick. But I also honestly thought the same about the original Iphone (my co worker had one on the very first day paying ~$700 and rest used to laugh at him). How wrong I was. There are many more examples of ideas I thought were stupid and went on to become billion dollar product/companies. So I am very acutely aware of my own limitation when it comes to predicting a product's success.