My friend, you really should stop dissing round watches, because you're gonna look bad when Apple makes one to compete with Android Wear

We went through the same silly debate with smaller tablets, larger phones, multitasking, widgets of some sort, notifications, etc. It's getting old.
Not to mention that the 38mm Apple Watch shows less text than the 42mm, so that argument is also bogus.
However, I do think your constant comments about Android Wear needing smaller versions (for women, for example) are right on the money, and I fully support you on that.
To answer your question, the top usually shows the sender.
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Then you can scroll it up (with a flick of your wrist if you wish... two hands not needed):
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Notice that Android Wear round watches sometimes show MORE text than the Apple rectangular face, because its reply menus are on another page.