21–30 of 449 posts
Jesus Christ. I personally know two people that started working there right around when the lockdowns were starting to get put in place. They've probably been there less than a month.
This is such a weird company. They created big buzz over years and it seems they are just fading away quietly with nothing to show for the money they took in. Reminds me a little of Theranos (although not as criminal). Why do these investors keep pumping so much money into a company that has nothing to show? I thought they do due diligence.
Does this officially place the Magic Leap's consumer device on the list of the biggest vaporware products in the history of the tech industry? I don't know whether there was some tech hurdle they could never get over or if they were just straight up selling a fantasy from the beginning, but this result has seemed to be the likely destination for years.
Glass did release limited versions of stuff, unlike Magic Leap, but I think they spent way more money than Magic Leap. Magic Leap raised $2.6B [0]. Although I have no idea how much Google spent, I suspect it’s more than this when you factor in the barges and rollout plan that they had and didn’t use at all.
[0] https://www.crunchbase.com/organization/magic-leap#section-l...
Karl Guttag has blogged about them for years, debunking their technology. Hi blog is a good read for all things in the AR/VR space https://www.kguttag.com/
They're exploring a sale valued at $10B, but it's doubtful who would have the appetite to buy it at this valuation. Google declined a follow on round recently, Apple has been developing their own tech for years, and Facebook has quietly stepped away from AR/VR. Magic Leap is reminiscent of another company with "Magic" in its name: General Magic ( https://en.wikipedia.org/wiki/General_Magic ). They both made a product…
Has Facebook de-prioritized Oculus? I haven't heard any news, but I'm also not following it closely.
They're exploring a sale valued at $10B, but it's doubtful who would have the appetite to buy it at this valuation. Google declined a follow on round recently, Apple has been developing their own tech for years, and Facebook has quietly stepped away from AR/VR. Magic Leap is reminiscent of another company with "Magic" in its name: General Magic ( https://en.wikipedia.org/wiki/General_Magic ). They both made a product…
Does this officially place the Magic Leap's consumer device on the list of the biggest vaporware products in the history of the tech industry? I don't know whether there was some tech hurdle they could never get over or if they were just straight up selling a fantasy from the beginning, but this result has seemed to be the likely destination for years.
I think it’s up there, but still Google Glass takes the cake (or maybe General Magic). Glass did release limited versions of stuff, unlike Magic Leap, but I think they spent way more money than Magic Leap. Magic Leap raised $2.6B [0]. Although I have no idea how much Google spent, I suspect it’s more than this when you factor in the barges and rollout plan that they had and didn’t use at all. [0] https://www.crunchba…
They have an Enterprise product still being supported: https://www.google.com/glass/start/
They're exploring a sale valued at $10B, but it's doubtful who would have the appetite to buy it at this valuation. Google declined a follow on round recently, Apple has been developing their own tech for years, and Facebook has quietly stepped away from AR/VR. Magic Leap is reminiscent of another company with "Magic" in its name: General Magic ( https://en.wikipedia.org/wiki/General_Magic ). They both made a product…
Does this officially place the Magic Leap's consumer device on the list of the biggest vaporware products in the history of the tech industry? I don't know whether there was some tech hurdle they could never get over or if they were just straight up selling a fantasy from the beginning, but this result has seemed to be the likely destination for years.
There was simply no reason for them to need this much cash before they proved market fit. I mean, has there ever been a successful company that gorged on funding before they needed it that eventually became successful? So many of the Vision Fund companies are in the same boat here.
If Magic Leap couldn't find at least good market fit with a couple hundred million, I don't see how they were going to get there with a couple billion.
They're exploring a sale valued at $10B, but it's doubtful who would have the appetite to buy it at this valuation. Google declined a follow on round recently, Apple has been developing their own tech for years, and Facebook has quietly stepped away from AR/VR. Magic Leap is reminiscent of another company with "Magic" in its name: General Magic ( https://en.wikipedia.org/wiki/General_Magic ). They both made a product…