Snap CEO Evan Spiegel defends Specs as long-term bet, pushes back against activist pressure

Snap CEO Evan Spiegel is pushing back on investor calls to cut its augmented-reality glasses unit. The company launched its new AR glasses, called Specs, at $2,195. Spiegel stated Snap is committed to its long-term vision and independence. He indicated more details on partnerships will be shared later this year. The unit was made a standalone subsidiary in January.