Ring Founder Bets AI Will Transform Home Security

Let's start with what's new here. Lots of the audience familiar with Ring the Doorbell goes beyond that now with the range of things. Yeah, so we have it. We have a large range of products from outdoor cameras, indoor cameras, alarm system. We started with the doorbell and now I call it the peanut butter and jelly. I mean, the lock and the doorbell have always, we thought, come together, but we didn't have an angle on the lock or an innovation on the lock that we thought warranted us putting our brand on it until now. Jamie, let's talk about that innovation. Um, there are, as Marx kind of outlined, an increasing number of options, uh, of smart home devices. What is it that you're good at? What is it that you think you're better at on the hardware side, the software side relative to the competition? Uh, well, so first of all, we start everything around a mission to make neighborhood safer. So I think with that North Star that really drives our business into a direction that that so far no one has been able to follow. Secondly, I'm an inventor. I mean, I have invented the smart doorbell, the floodlight camera and many other innovations around the home, including today with the smart lock that now has a rechargeable, um, uh, power dial on it so that if the smart I mean, you know, when a smart lock loses its batteries, it becomes a not smart lock or a dumb lock. Right. And so, you know, now, instead of having to have a backup key that's hidden in the area where the spiders are around your house, you literally just twist this power dial, it comes back on, and now you get in. And so that's, you know, ring really mission to make neighborhood safer. We're very innovative. Um, I consider myself an inventor, and that's what we've been able to do so far, which is, I think, how we've become what I believe is the largest home security company in the world. Right. You know, Jamie, I have a smart doorbell from from another brand. But the main point I'm getting at is that it's part of an integrated system of multiple devices of different types. Right? What kind of data do you see about a consumer that buys one ring product in, in aggregate with lots of others right there kind of bulk buys of systems rather than just one piece of it? Yeah, certainly it's the rings of security and everything you can buy from ring works on its own or works together, sort of on the app and in the ecosystem. It also works with Alexa Plus. Um, so we do see that people, you know, they certainly starting at the doorbell is their first ring of security working your way around alarm system, outdoor cameras, some indoor cameras, smart lock. Now, you know, we really help people to build the security they need. And also, you know, choose your power. I mean, one of the big things is we offer batteries, solar and power options and basically every camera that we have. Jamie, you heard Mark Gurman reporting there on Apple's entry into this category, um, which includes a smart lock and thermostat, etc., based on his reporting. Um, how do you react to that? You know, what's your feeling about Apple coming into the space? I've had competitors since day one. I've stuck to my mission to making neighborhood safer, and so far that's paid dividends for us. So we're just going to keep focusing on our neighbors, which is what we call our customers. I'm going to keep innovating, bringing new to world products. And, uh, I feel like if I do that, I'll remain successful and keep being the leader in the market here. I'm genuinely I'm genuinely interested in the economics of consumer electronics. Right. Especially when you push into into to get electronics getting smaller and smaller and smaller and ring within Amazon. We showed in fact team put the table back up with the price points for this generation of ring. Um, yeah. Like how do you get that right. The pricing. Is it a benefit to have Amazon scale that you can price such as you do? Is this a profitable enterprise? Uh, it certainly ring is very profitable at this point. Uh, we also we are big enough now in terms of scale that yes, certainly being at Amazon is not you know, it's not a detriment, but we're big enough now that we can get scale in the pieces and the things that we buy. And we're, you know, we're very innovative in how we are able to choose the chips, build the products, build them from scratch, try to use first principles, uh, and really build the best products at the best cost to democratize, you know, home security for everyone. Jamie, what happens next in this field? How does the smart home change in the future to your mind? I mean, with AI and superintelligence, certainly the smart home is going to continue to change. I believe we're the appendages for for AI and superintelligence. You know, it's going to need to have the physical. It's going to need to have a lock. It's going to have a doorbells and cameras. It's going to need to be able to see and sense. And when you put all of that into a superintelligence, I do believe that that is going to, um, you know, superpower, our ability in the home, our peace of mind in the home, uh, and doing things for us. I mean, in the end of the day, it doesn't matter the technology, it's how how is it better for us to live in our homes when we have all this stuff? And I, I do believe the age of abundance is ahead of us, and we're going to have, you know, around our area, we're going to be living in our homes safer, more secure, and it's going to be more peace of mind.