Both Google and Oakley's glasses make use of a technology . Think of it as a mix of your virtual and real life: Information about your surroundings is placed in the field of view on the glasses, thus augmenting or enhancing reality.

CEO Colin Baden told Bloomberg that Oakley's efforts will initially target athletes. The company also has a military subsidiary known as Eye Safety Systems, and Baden says his company's augmented reality technology may find a home there, too. Unfortunately, he did not show the actual glasses.

Oakley appears much further along than Google in making its product a reality. However Baden is mum as to when we'll actually see Oakley's smart glasses. He does say the market is "ripe" for such technology.

The same negatives that I brought up with my colleague Howard Baldwin apply here. Baden himself admits that anything Oakley will release will be prohibitively expensive. He also wants the project to function on its own, rather than having some bulky accessory to wear along with the glasses themselves, and that will only add to the cost.