Magic Leap is a tech start-up, valued at around $8 billion, and focused on the creation of advanced augmented reality solutions. It also has yet to produce a single tangible product. However, a leaked photo – which is yet to be verified by the company – reportedly shows a Magic Leap employee, testing a new AR device. He is wearing the traditional virtual reality style glasses, and also a bizarrely large piece of hardware stored in a backpack. This will be a major disappointment to those who have looked to Magic Leap as the business which would combine the virtual world and the real, in an elegant fashion.
Multiple sources, including the well-respected online tech news site, “The Information,” have reported that the company’s major stumbling block is taking their complicated hardware and software and creating a tangible, usable, and interesting product. The leaked photo also mentions a pending board meeting, where the technology in the backpack will be presented, although the goal is for it to be a belt sized product before then.
Investors must be getting nervous, with billions of dollars being tied up in a business that has 800 employees- some of the best and brightest in the burgeoning industry- all with a single goal, to create a tangible product that will be usable, and offer the mindblowing experience that augmented reality has promised, and not delivered. The question now must be asked if they can actually do it.
Meanwhile, lesser businesses are making great strides while adhering to the Silicon Valley rule of producing a minimum viable product and getting it into the market as soon as possible. With a forgiving and passionately early-adopting base of willing consumers, it’s tricky to understand why Mind Leap would be holding obacck – unless they have nothing to show.ny
If it’s a backpack, I’m sure the world would rather wait.