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Magic Leap is really cool to use. That doesn't mean it's a feasible product for the mainstream.
Not with its playing-card-sized FOV it isn't
I sort of always knew it was the job of VCs to hype up their portfolio, but i've never seen it as bare faced as when Benedict Evans was shilling Magic Leap saying things along the lines of "Magic Leap was the coolest thing I'd seen since the iPhone. It's now much cooler than that." and "I’ve had the Magic Leap demo. It was worth going to Florida for." Well that looks a bit silly now doesn't it.
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…
> Citing COVID-19, CEO Rony Abovitz wrote in a blog post that the company needed to shift focus Right... because of Covid-19. As a counter example, Animal Crossing on the Nintendo Switch is doing phenomenal right now, in part due to Covid-19.
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I am not sure if financials really work out the way i assume, so i could totally be talking out of my ass here. But i have a feeling it could work as a really nice money laundering vehicle for investors (even though i dont think it was fully the case here), and the company doesn’t even need to be aware of it. You make X in dirty money, then invest it into a cool sounding company promising groundbreaking stuff that ha…
Is there some exception to money laundering rules I'm not aware of where the government doesn't investigate the source of cash if it is invested in a company from overseas?
I sort of always knew it was the job of VCs to hype up their portfolio, but i've never seen it as bare faced as when Benedict Evans was shilling Magic Leap saying things along the lines of "Magic Leap was the coolest thing I'd seen since the iPhone. It's now much cooler than that." and "I’ve had the Magic Leap demo. It was worth going to Florida for." Well that looks a bit silly now doesn't it.
Magic Leap is really cool to use. That doesn't mean it's a feasible product for the mainstream.
I suspect that the big difference here is, this being 1990, SNK didn't have nearly as much access to investment money from rich people who don't understand the what entertainment budgets look like for the other 99.99% of people. So it was never hyped as anything but a luxury product.
> Citing COVID-19, CEO Rony Abovitz wrote in a blog post that the company needed to shift focus Right... because of Covid-19. As a counter example, Animal Crossing on the Nintendo Switch is doing phenomenal right now, in part due to Covid-19.
I get the sense that "shifting focus" means that Magic Leap were so focused on the hardware that they didn't really think concretely about bringing a viable platform to market, or something like that. I just don't understand how a company raises that kind of money and gets totally exposed during a financial crisis like this. Did they really raise that much money without a concrete go-to-market strategy?
> Citing COVID-19, CEO Rony Abovitz wrote in a blog post that the company needed to shift focus Right... because of Covid-19. As a counter example, Animal Crossing on the Nintendo Switch is doing phenomenal right now, in part due to Covid-19.
Products consumers enjoy at home are getting a big bump, Startups relying utterly on the VC cash gravy train less so.
Will VR/AR join 3D TV in the consumer tech hall of shame?
VR is doing fine in gaming. The headsets are sold out everywhere and there are a lot of great games available. It won't overtake 2D gaming anytime soon but there's a healthy market.
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Is there some exception to money laundering rules I'm not aware of where the government doesn't investigate the source of cash if it is invested in a company from overseas?
Oh, if it is a foreign power, they arent laundering it to prevent the US government from discovering the source, they are doing it to prevent discovering the source from their own governments. Because those foreign actors wouldn’t be running away from taxes from the US, since those money were never in the US in the first place. Also curious on how it would work. If a rich foreign national decides to invest into a ran…
https://en.wikipedia.org/wiki/Committee_on_Foreign_Investmen...