Translation from VC-Backed PR Jargon to English of Magic Leap CEO Statement
$2.4B wasted on this.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.They made some really average AR glasses.Two point four BILLION dollars.The Tesla Model S cost ~500M to develop from start to finish[0], so Magic Leap has spent 5 times that amount.The ENTIRE Starlink satellite network will cost ~$10B total to develop, build, and deploy [1]. So Magic Leap spent a quarter of that.Apple developed and released the original iPhone on a budget of $150M. Magic Leap has spent 16 times that.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.[0] https://teslamotorsclub.com/tmc/threads/model-s-development-...[1] https://en.wikipedia.org/wiki/Starlink[2] https://en.wikipedia.org/wiki/IPhone_(1st_generation)