51–60 of 449 posts
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.
Earlier quoted context omitted.
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…
Glass was killed by a single word: "glasshole" - I've never seen anything else so utterly destroyed so quickly.
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 less of a tale of "vaporware" (I mean, Magic Leap has something that actually exists, even if it's not successful) than yet another cautionary tale of startups taking WAAAYYY more money than they need. 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 becam…
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.
More like Dean Kamen's launch of "Ginger" in 2001.
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…
I just don't think they are with the amount of work they are doing on the Oculus ecosystem atm.
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.
Nevertheless, I tend to agree that the product they were marketing did never materialize.
Earlier quoted context omitted.
Now with COVID-19, they really DO have a killer demo: 1. Put the goggles on some investor's head. 2. Investor catches COVID-19 and dies. Nobody wants to share VR or AR gear any more. The whole idea of location based VR / AR entertainment centers is deadly now. If it's so great you can't believe it without trying it yourself, and nobody wants to stick their head in a device that anybody else has been drooling and coug…
Don't be such a wuss. None of that is something a little Lysol can't fix, and these places should have always been using such (though I imagine they don't).
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…
You mean the fake video demos they distributed?
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 less of a tale of "vaporware" (I mean, Magic Leap has something that actually exists, even if it's not successful) than yet another cautionary tale of startups taking WAAAYYY more money than they need. 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 becam…
They were killed by too much ambition and too much money about 10 years too early.
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 less of a tale of "vaporware" (I mean, Magic Leap has something that actually exists, even if it's not successful) than yet another cautionary tale of startups taking WAAAYYY more money than they need. 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 becam…