Translation from VC-Backed PR Jargon to English of Magic Leap CEO Statement
$2.4B wasted on this.<p>They weren't smashing atoms together to discover world-changing new physics. They didn't send people to space or develop some new revolutionary type of transport that could transform society.<p>They made some really average AR glasses.<p>Two point four BILLION dollars.<p>The Tesla Model S cost ~500M to develop from start to finish[0], so Magic Leap has spent 5 times that amount.<p>The ENTIRE Starlink satellite network will cost ~$10B total to develop, build, and deploy [1]. So Magic Leap spent a quarter of that.<p>Apple developed and released the original iPhone on a budget of $150M. Magic Leap has spent 16 times that.<p>These aren't apples to apples, of course. But I think it puts in perspective just how much of a scam Magic Leap is in general.<p>[0] <a href="https://teslamotorsclub.com/tmc/threads/model-s-development-costs-so-far.7294/" rel="nofollow">https://teslamotorsclub.com/tmc/threads/model-s-development-...</a><p>[1] <a href="https://en.wikipedia.org/wiki/Starlink" rel="nofollow">https://en.wikipedia.org/wiki/Starlink</a><p>[2] <a href="https://en.wikipedia.org/wiki/IPhone_(1st_generation)" rel="nofollow">https://en.wikipedia.org/wiki/IPhone_(1st_generation)</a>