Magic Leap Raises $461M from Saudis
bloomberg.com
Magic Leap Raises $461M from Saudis
1–10 of 125 posts
Re: Magic Leap Raises $461M from Saudis
#2Thought it was going to be Softbank, no it actually is the Saudis directly.
Re: Magic Leap Raises $461M from Saudis
#3Looking from afar it really looks like Magic Leap is the largest money laundering vehicle that everybody is using. It's either that or the tech is so freaking groundbreaking that it is literally going to melt brains.
Given my age, the cynic is winning.
Re: Magic Leap Raises $461M from Saudis
#4> Magic Leap has raised more than $2.3 billion to date, and has been valued at above $6 billion.
How can you raise that much money without shipping a product? Or better question, why do you need raise that much money in the first place?
Re: Magic Leap Raises $461M from Saudis
#5Thought it was going to be Softbank, no it actually is the Saudis directly.
Does SoftBank often act as a proxy for the saudis?
Re: Magic Leap Raises $461M from Saudis
#6This is great evidence of the greater fool theory: https://en.wikipedia.org/wiki/Greater_fool_theory
I’ve heard some second hand anecdotes about Magic. Apparently they have one big technology advance, which is that they’ve solved the eye tracking and vertigo challenges of AR. These are hard and not to be underestimated. However the company is supposedly a mess internally - with huge management and political issues. This isn’t surprising - I’ve been in a number of early stage startups and by default they are a mess. Add on top of that billions of dollars of funding and no customers or sales to anchor the company to reality, and its easy to see how AR can become “Alternative Reality”! Further evidence - their recently released headset photos were renderings, not actual products. I genuinely hope that I’m wrong - I’d love for the amazing demo videos they’ve released to congeal into real mass market products.
Does anyone else have good data on Magic?
Re: Magic Leap Raises $461M from Saudis
#7This is great evidence of the greater fool theory: https://en.wikipedia.org/wiki/Greater_fool_theory I’ve heard some second hand anecdotes about Magic. Apparently they have one big technology advance, which is that they’ve solved the eye tracking and vertigo challenges of AR. These are hard and not to be underestimated. However the company is supposedly a mess internally - with huge management and political issues. T…
Not any good data, but I've had recruiters tell me that they don't pay very well (in SV terms), instead opting to sell employees on large options packages that will be "worth millions one day". It's a typical SV story, but one I wouldn't expect from a company that's valued at billions of dollars. That kind of behavior seems shady to me, so I wouldn't even consider working there.
Re: Magic Leap Raises $461M from Saudis
#8Looking from afar it really looks like Magic Leap is the largest money laundering vehicle that everybody is using. It's either that or the tech is so freaking groundbreaking that it is literally going to melt brains. Given my age, the cynic is winning.
Apparently their tech is pretty awesome but getting it down to portable is what’s taking so long.
That might be a rumor but it’d make sense for how much money they’re pulling in.
Re: Magic Leap Raises $461M from Saudis
#9Link to previous HN discussions regarding Magic Leap's tech: https://news.ycombinator.com/item?id=16088516 and https://news.ycombinator.com/item?id=13653537
Re: Magic Leap Raises $461M from Saudis
#10This is great evidence of the greater fool theory: https://en.wikipedia.org/wiki/Greater_fool_theory I’ve heard some second hand anecdotes about Magic. Apparently they have one big technology advance, which is that they’ve solved the eye tracking and vertigo challenges of AR. These are hard and not to be underestimated. However the company is supposedly a mess internally - with huge management and political issues. T…
Not any good data, but I've had recruiters tell me that they don't pay very well (in SV terms), instead opting to sell employees on large options packages that will be "worth millions one day". It's a typical SV story, but one I wouldn't expect from a company that's valued at billions of dollars. That kind of behavior seems shady to me, so I wouldn't even consider working there.
not to excuse significantly lower pay from magic leap, but their compensation might be calculated based on their office location in Plantation, Florida which I presume has significantly lower real estate (rental or purchase) costs than the bay area.
actual take home after rent or mortgage each month might be greater than something in mountain view.
https://en.wikipedia.org/wiki/Plantation,_Florida
spending 20 seconds looking at zillow for that city I see what looks like some fairly decent 3BD/2BA detached homes for $300,000. which would be a pipe dream in seattle, vancouver or bay area.