Meta acquires AI device startup Limitless

Meta has officially announced the acquisition of Limitless, an innovative AI startup previously known as Rewind. This strategic move, revealed on Friday, signals a shift in Limitless's business model as it will cease the sale of its AI-powered hardware, specifically the pendant designed to record conversations. In a transition plan for existing customers, Limitless will discontinue subscription fees and automatically upgrade users to the Unlimited Plan for the foreseeable future. However, the startup will be winding down other functionalities, including its desktop activity recording software, previously branded as 'Rewind.' Founded by Brett Bejcek and Dan Siroker, the latter being a co-founder and ex-CEO of Optimizely, Limitless pivoted last year to focus on wearable AI technology with their pendant priced at $99. This device, which could be worn as a necklace or clipped onto clothing, entered a competitive market that includes other AI wearables, such as the less popular Friend pendant. In their announcement, Limitless expressed alignment with Meta’s vision of democratizing personal superintelligence through AI-enabled wearables. While Meta is currently concentrating on augmented reality (AR) devices, including the Ray-Ban and Oakley collaborations, Limitless’s integration hints at a focus on enhancing existing product lines rather than developing new pendants. The company acknowledged the challenges posed by intense competition from larger players like OpenAI and Meta itself, which are also venturing into hardware. In his message, Siroker reflected on the evolution of the industry: “When we started Limitless five years ago, the world was very different... Today, we’re building a future that now seems inevitable.” Meta expressed enthusiasm over the acquisition, indicating that Limitless will play a pivotal role in accelerating their efforts in AI-enabled wearables. While specific future plans were not disclosed, Limitless assured customers that they would have options to export their data or delete it through the app. The startup has successfully raised over $33 million from notable investors, including a16z, First Round Capital, and NEA.