Facebook is building a voice assistant

Facebook is developing a voice-powered virtual assistant similar to Apple’s Siri, Amazon Alexa and Google Assistant. Read more…

Further Reading

Tech companies also are experimenting with monetization strategies that extend beyond the initial purchase of a smart speaker. Amazon likely sells its smart speakers at a loss, according to product teardowns by ABI Research, which estimated the second-generation Echo Dot that sells for $29 has about $31 in parts. But those devices give the e-commerce giant a foothold in the connected-home market and help to support Amazon Prime, the subscription service that costs $119 a year for streaming video, a limited package of streaming music and no-fee two-day shipping on most products. People who have an Echo in their home spend about $1,700 a year on Amazon, or 66% more than the average Amazon customer, per Consumer Intelligence Research Partners.

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