The idea that software is eating hardware, while true on some level for some class of products, is also what leads to lots of startups with solid software backgrounds offering a beautifully designed product that suffers from cost overruns, delays, mechanical and firmware bugs (you think having to test an app across a couple of phones is a pain, try field testing your smart lock). "Move fast and break things" is very different from the mindset needed to build hardware.
Be mindful of the perspective of the authors when reading these tragedies: https://medium.com/@stevekreyos/the-rise-and-fall-of-kreyos-... https://medium.com/@Haje/how-a-half-million-dollar-kickstart...