Definitely needs to lose the ridiculous blue lights. At most, a small red indicator light, but even better is a small LCD monochrome panel to indicate recording time, time left on card, battery state, etc.
"1080p" is a fine spec but doesn't really indicate whether the camera is useful or not. I've owned several 1080p helmet cams, some are OK, some are useless because the compression is horrible and you can't EVER read license plate numbers. Also it should be able to shoot in multiple modes.
Hopefully it will operate without a phone, it's not clear in the kickstarter. Requiring me to A) have a phone to use it at all, and B) pull my phone out in the middle of a driving thunderstorm or in the snow on the side of a roadway is a serious problem.
Loop recording is not absolutely essential but it's very nice to have. I've been seriously bugged with cams that do not do this - curiously the cheaper the camera, the more likely it is to have this (and many other) features. I only use my footage for evidence so there's no need to keep it or even look at it most of the time.
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Work: the 8 hours that separates bike rides.