For two years, Pebble was the smartwatch company to beat. In 2012, it raised over $10 million on Kickstarter for its simple, monochrome e-paper wristwatch, putting itself and the crowdfunding site on the map. But things move quickly in the technology world. Google has since come out with Android Wear, prompting a slew of smartphone companies to suddenly turn into watchmakers. Not to be outdone, Apple joined the fray as well, positing its own wearable as a timepiece premium enough for high-end boutiques. So when Pebble debuted the Time, its second-generation $199 smartwatch, on Kickstarter three months ago, it was facing much stiffer competition. Surprisingly, that too made crowdfunding history, raising more than $20 million in just over a month. Did 78,471 backers make the right decision? I attempt to find out.