Information released in a report today showed the company Magic Leap in deep trouble. This is a company that built its reputation on the future of augmented reality, aka AR, creating AR technology (like AR headsets) to capitalize on and participate in the modern world of AR\/VR computing. But as losses mounted, they began to reach the wrong milestones \u2013 points at which they needed to fire \u201cdozens of employees\u201d and at which important early supporters began leaving the company.\n <\/p>\n
Magic Leap and the money burn<\/h2>\n
A report today from The Information<\/a> shows Magic Leap at a crossroads. This report came just as Qualcomm announced their Snapdragon XR2 Platform for mixed-reality glasses<\/a> with 5G connectivity. Qualcomm also made an announcement with Pokemon GO creator company Niantic that they already have AR glasses in the works.<\/a>\n<\/p>\n Perhaps you already own a Magic Leap ONE Creator Edition<\/a> right now. Maybe you\u2019re reading this article from the comfort of your own headset\u2026 if that\u2019s even really realistically possible. Chances are better that you\u2019ve neither purchased this headset, or even really even had the opportunity to purchase this headset.\n<\/p>\n This wasn\u2019t the future<\/a> that Magic Leap founder and CEO Rony Abovitz had in mind<\/a>, when it came to the company\u2019s primary AR headset product release. According to the report written by Alex Health, linked above, Abovitz repeatedly told investors and colleagues in meetings that \u201che wanted to sell at least one million units within the product\u2019s first year.\u201d He later \u201csettled\u201d on a \u201cmore modest plan\u201d which included selling \u201cat least 100,000 headsets\u201d in the first year.\n<\/p>\n![\"\"](\"https:\/\/scdn.slashgear.com\/wp-content\/uploads\/2019\/12\/qualcomm_niantic_pikachu_arglasses.jpg\")
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