Great observations. A couple of thoughts — the idea of a recurring revenue stream with and IoT product is a hard sell.

What is consumable? I’m skeptical of folks agreeing to buy into subscriptions for single devices except as a financing play — get a free IoT device and pay it back in installments.

It’s tempting to solve trivial problems, slap an IP address on it and call it IoT. The fundamental question is always about ongoing value — how will IoT makers prove that this is going to continue to increase usage and make the consumers life better, without incremental costs. Think more like a Tesla with overnight downloads and free supercharging than an iPhone that is discarded very 18 months. Now that’s a tough business model to crack. Game on.