What Cracking Open a Sonos One Tells Us About the Sonos IPO

I always find more truth about a company’s future buried in a company’s products. Long story short: I don’t have high hopes for Sonos’ trajectory. Here is why…

🎵Going deeper underground

Hidden in plain sight is the roadmap for how this battle for consumers’ homes is likely to play out.

Two Categories and Two Teardowns

🎵Nothing compares to you

Teardown: Sonos One

🎵I like big bottoms, and I cannot lie
🎵It’s getting hot in here, so take off all your casings.
🎵You spin me right, round, baby, right round. Like a speaker, baby, right round!
🎵Your traces bring all the boys to the yard.
🎵I’m hopelessly devoted to you.
🎵Oh it’s such a shame for us to part

Teardown: Amazon’s Echo Plus

This is clearly an extremely unusual way to design a speaker.

🎵Upside down, boy you turn me, inside out, and round and round.
🎵Every now and then I fall apart
🎵A little bit louder, now
🎵Black hole sun, won’t you come…
🎵I’m only happy when it rains / I’m only happy when it’s complicated
🎵Life in plastic, it’s fantastic
🎵Without a trace
🎵You are so beautiful, to me, can’t you see?
🎵Pieces of you

Innovative Tech Giant vs. Speaker Company

Amazon has three wildly unfair advantages, which doesn’t bode well for Sonos’ IPO.

Amazon’s Unfair Advantage #1: Retailer and OEM

Amazon’s Unfair Advantage #2: Platform Ownership

Amazon’s Unfair Advantage #3: Diversification

Short or Long on Sonos?

President and COO at Ten Percent Happier. Previously founded @BoltVC, EIR @EclipseVentures.