New 1.8 "performance snapshots" not launching

Sorry if I did not label this correctly, I wasn't sure if this was an issue with the launcher, or Minecraft itself. With all of the 14w30 snapshots, they will not launch, there is a message saying:

Error: Could not create the Java Virtual Machine
Error: A fatal exception has occurred. Program will exit.

Also, in the game output tab, this is written:

Error occurred during initialization of VM
Could not reserve enough space for object heap

Also, other versions of Minecraft work fine for me
I will include some screenshots as well, the settings I have set for my snapshot profile, and the two messages.