For a few minutes while I flipped through the Space Glasses web site and watched their video I thought it was a joke.
This quote on their landing page doesn't cultivate much believability.
But of course it's real, and like Glass they're concious of the implicit privacy concerns from the outset. "Meta prototypes include a front-facing LED that will let others know when you’re recording the world around you." Even as the discussion goes on about surveillance and privacy being a Big Deal there are interesting experiments in using AR to enhance your own privacy and invade the privacy of others under way.
I give it about five minutes before someone combines an AR platform with something like the Carnegie Mellon adaptive headlights and an infra red camera jammer for active privacy management.