Magic Leap is a mixed reality company currently valued at $6 billion that has raised $1.5 billion in funding with no product to show. Rumors of wondrous technical feats followed by massive rounds of funding, most notably from Google, which invested $500 million in 2011, propelled Magic Leap from an innovative startup to the world’s most intriguing mixed reality company. Since then, the shiny veneer of this unicorn has started to crack, and its technology claims appear to be highly exaggerated. In this report, we examine the company’s history and patent portfolio to understand Magic Leap’s mix of hype and reality.
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