Misfit Shine: A Fitness Gadget Backed by Former Apple CEO Aims to be Different

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The hardware certainly seems impressive, at least from the little we know about it and from the video the company released. But Sculley and Vu are equally as passionate about the software, which it isn't revealing at all yet.

"We have a great team in San Francisco doing the hardware industrial design, but the bulk of the team is made up of computer scientists," Vu said. "They are making the product really useful. One of the most useful things we can do is provide insight, displaying a chart and a graph is easy, but giving people personalized insights is harder." Vu explained that setting fitness and activity goals is going to be a large part of the experience.

Currently Misfit Wearables has 30 people working on the Shine and the systems. Vu himself has a background in computer science but he also studied language and language technologies at MIT. The last company he started – AgaMatrix -- created the first FDA-approved glucose meter to work with the iPhone.

He expects the Shine to start shipping by March to early adopters. The company just put up the project on Indiegogo, where it is allowing people to place pre-orders. The basic package costs $79 and includes the Shine, a clasp, and a sports wristband. As of the morning of Friday, Nov. 16, they had received over $154,000. Sculley stressed that the Indiegogo sale was merely to raise awareness for the company; the company has raised over $7 million in venture capital and Sculley himself is an investor.

Sculley believes that fitness technology is the next big thing. The same way he and Jobs felt that the personal computers were going to be the next big consumer market in the 1980s.

"Steve [Jobs] had this insight that no one else saw that the Mac would eventually be sold like Pepsi and Coke sell their products," Sculley said. "We are kind of at the same moment again, except this time it is about healthcare. The chance to figure it out can make a huge difference to the country."

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PHOTO: Jodie Foster and Alexandra Hedison attend the Wallis Annenberg Center for the Performing Arts Inaugural Gala presented by Salvatore Ferragamo at the Wallis Annenberg Center for the Performing Arts, Oct. 17, 2013, in Beverly Hills, Calif.
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