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Magic Leap Raises $794 Million To Accelerate Adoption of Secretive AR Tech (roadtovr.com)

Posted by timothy on from the not-sure-that-startup-is-still-the-right-word dept.

An anonymous reader writes: A massive new $794 million Series C investment in secretive AR startup Magic Leap puts the company among the world's most valuable startups, now reportedly valued at $4.5 billion. The company has aggressively teased what they believe to be revolutionary augmented reality display technology, allowing a mixture of the real and virtual dimensions in a way previously not achieved. Although they've played coy to the public, offering little more than bold claims, investors like Alibaba, Google Ventures, and Qualcomm Ventures have bought into the company's vision to the tune of $1.39 billion in total raised by Magic Leap thus far. Also at Network World, which notes that their demo must be amazing.

2 of 51 comments (clear)

  1. Nostradamus time by Anonymous Coward · · Score: 1, Insightful

    There's another financial crisis coming soon, and it's going to make 2008 (and the dot-com bubble burst) look like a small hiccup in comparison. Senseless transfers of billions of fiat dollars around companies like this and various shitty social networks that have never made a single cent in profit are a sign of that.

    1. Re:Nostradamus time by ArmoredDragon · · Score: 4, Insightful

      I don't think it will be that bad, but yeah I think there will likely be a simultaneous collapse of both real estate bubble 2.0 AND tech bubble 2.0. Neither of these bubbles are as big as the ones that preceded them though, so we'll probably see a simple recession.

      And because people like to blame the president for recessions (even though it's never actually been the president that caused it,) whoever wins the next election will be a recession president, and unless there's a significant turnaround in that time, they'll be a one term wonder.