> How can you raise that much money without shipping a product? Some businesses and technologies are extremely capital intensive and funding can/should/is prov

> How can you raise that much money without shipping a product? Some businesses and technologies are extremely capital intensive and funding can/should/is provided on achieving benchmarks instead of a cohesive product. This is different than shipping an MVP and improving it which in some industries is not possible. YC for example funds hardsci fusion reactor companies and SA talks about how they iterate really fast during the YC period to produce some tangible benchmark which is obviously much less than a full-fledged product but much more than some nebulous "concept". So yes, it makes sense that certain industries receive larger than average investment relative to other industries at similar product stages. While I myself am extremely skeptical of Magic Leap, their technology and the likelihood investors aren't participating in some sunk-cost fallacy investment thesis there is a non-cyncial view: MagicLeap has been showing significant achievement along both technological and production benchmarks privately to investors and they are confident that the technology & manufacturing improvements warrant continued investment. I think the amount of capital raised pre-validation is insane as it isn't simply larger than average it is orders of magnitude larger...