Owning the Night
Ben Shen@bgshok
The idea
I believe sleep is becoming a platform, and one day the devices tracking your night will capture dreams themselves. Since that future is years out, I built this to earn from sleep markets that already work today: wearables, apnea and insomnia treatment, sleep medicine, and audio for sleep, while keeping real exposure to the long-dated dream-capture idea through the wearable makers.
What will be bought
- Watches, rings and smart beds that track sleep overnight are the devices most likely to capture sleep and dream data first. · Apple Inc.It puts sleep tracking on more wrists than nearly any other device, making it the platform most people already wear to bed., Garmin Ltd.It tracks sleep for a devoted fitness crowd that wears its watches overnight, making it a stand-in for dedicated sleep wearables., Alphabet Inc.It runs one of the largest sleep-tracking user bases through Fitbit and Pixel Watch, plus the artificial intelligence to analyze overnight data., Somnigroup International Inc.It sells smart beds with built-in sleep sensing that capture what happens overnight without anything worn on the wrist.30%
- Drug and therapy companies treating insomnia, narcolepsy and nightmares are the natural acquirers of sleep and dream data. · Alkermes plcIt is developing an orexin drug for narcolepsy, targeting the brain system that controls sleep and wakefulness., Harmony Biosciences Holdings Inc.It sells narcolepsy drugs and focuses almost entirely on sleep and wake disorders, creating current revenue from the sleep market., Jazz Pharmaceuticals plcIt operates one of the world's largest narcolepsy drug businesses, generating substantial revenue from sleep disorder treatment today., Teladoc Health Inc.It delivers online therapy at scale through BetterHelp, a service model that could one day work with sleep and dream data., Axsome Therapeutics Inc.It sells a drug for excessive daytime sleepiness and is developing a narcolepsy treatment, both part of the sleep therapy market., Takeda Pharmaceutical Company LimitedIt operates one of the most advanced orexin drug programs for narcolepsy, targeting the brain system that controls sleep.23%
- Sleep apnea is the largest paid market in sleep today, and treating it requires devices that stay connected every night. · ResMed Inc.It leads the market in CPAP machines for sleep apnea and runs connected devices sending nightly data from millions of bedrooms., Eli Lilly and CompanyIts weight-loss drug is approved to treat obstructive sleep apnea in adults, creating sleep medicine revenue alongside its main business., Inspire Medical Systems Inc.It makes an implant that keeps the airway open during sleep for people who cannot use CPAP machines.18%
- Companies already selling sleep audio and immersive media have the distribution and content to turn dreams into watchable entertainment. · Spotify Technology S.A.It distributes sleep sounds and sleep stories to millions of people every night, already selling entertainment into the sleep market., Sony Group CorporationIt makes image sensors used in many devices plus games, film and virtual reality, covering both hardware and immersive media.11%
- Cash18%