What They Say
Magic Leap has raised $500 million on a valuation of $2 billion (down from the $6.4 billion valuation in 2019). CNBC interviewed CEO, Peggy Johnson, during which the new headset was shown. Johnson said image quality and colour fidelity has been improved and the field of view doubled. The headset will also support segmented darkening of parts of the glasses to make content viewable in very bright conditions. The size and weight have also been reduced.
Separately, the firm announced a ‘strategic’ collaboration with VMWare that includes support for VMWare’s recently announced Workspace ONE XR Hub on Magic Leap 2.
What We Think
Another $500 million is a big boost. As it happens, over recent days, I have heard several discussions and comments about how humans have a propensity to keep putting ‘good money after bad’ after they have invested. Frankly that’s almost the only reason I can see that anyone would put this much money into this company. But what do I know? (BR)
