Start-up Magic Leap said to fall short of hype
Lauded unicorn start-up Magic Leap has scrapped many of its grandiose projects in favor of a device designed like a pair of glasses, technology website The Information reported this week.
The Information's interview with the CEO raises questions as to whether Magic Leap is as advanced as some people might think. Indeed, some Magic Leap's videos were not representative of the company's technologies at the time, but were created with some movie magic — a special effects company, The Information said.
High-flying Magic Leap was last valued at around $4.5 billion, according to CB Insights, luring investors like Google and Andreessen Horowitz with "mixed" or "cinematic" reality. The Florida start-up envisioned overlaying interactive graphics onto the real world in a way that few other technology companies had demonstrated.
But The Information's reporter also found that Magic Leap's games were more jittery and blurry than its rival, Microsoft (MSFT)'s HoloLens. CNBC has reached out to Magic Leap for comment on the report.
Still, Magic Leap openly markets its technologists as wizards, and proselytizes that mixed reality will replace phones, tablets, computers and televisions.
For more on the story, see the full report at The Information.com.
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