Magic Leap reportedly slashes jobs and steps away from consumer plans

Post by seanmcdirmid » Wed, Apr 22, 2020, 5:33 PM UTC

sergiotapia wrote: post #32

prepend wrote: post #23

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.

Post by taurath » Wed, Apr 22, 2020, 5:35 PM UTC

hn_throwaway_99 wrote: post #29

slg wrote: post #2

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…

Post by tootie » Wed, Apr 22, 2020, 5:37 PM UTC

trollied wrote: post #24

Wow, they burned billions. 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/

Post by j2bax » Wed, Apr 22, 2020, 5:38 PM UTC

Post by bredren » Wed, Apr 22, 2020, 5:39 PM UTC

cfontes wrote: post #55

xiaolingxiao wrote: post #8

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…

Oculus Quest has been a major hit, do you have any info on facebook walking away from VR? I just don't think they are with the amount of work they are doing on the Oculus ecosystem atm.