Apple just debuted RoomPlan, a rudimentary "digital twin" creation tool that could compete with Matterport's service.It can be tough for technology start-ups that have a limited ability to defend their niches from the incursions of rivals. We live in a world where massive tech powerhouses have hundreds of billions of dollars in resources at their disposal. A tiny business can spend years gradually developing a useful new service and building the market for it, only to suddenly find itself competing with a tech titan.
Take Matterport (MTTR -7.09%), for example.
The company's cameras and software help clients map out and create virtual representations of real-world spaces, and its spatial data platform has been winning over lots of fans. But high-growth tech companies -- especially ones that aren't generating profits -- have fallen out of favor among many investors in the current macroeconomic environment, and Matterport's share prices are down 75% so far in 2022.