Why the first smartphone failed, and what it teaches us about constraints. : Planet Money In the early 90’s, a company called General Magic began working on a portable device that would allow people to check email, make phone calls, even play games. It was basically a smartphone. But it never caught on. On today’s show, a theory about why this device failed. General Magic had generous investors, world-class talent and creative freedom. But is it possible what they needed was constraints?