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It's funny that people are so anti-AR/VR that they called Magic Leap a scam for raising $3B, but a 10 minute video streaming app that burns through $2B in 6 mon
by Impossible 6y ago
It's funny that people are so anti-AR/VR that they called Magic Leap a scam for raising $3B, but a 10 minute video streaming app that burns through $2B in 6 months is completely legitimate? I understand that content can be expensive, but Magic Leap did produce actual consumer hardware, and Microsoft and others have spent similar amounts to make comparable hardware. I'm not saying that Magic Leap is a successful company by any stretch, but if ML is a Theranos style scam, then Quibi was as well.
- deleted 6y ago[deleted]
- Traster 6y agoThe reason Magic Leap was called a scam is because they demo'd technology that seemed too good to be true and then never produced a consumer product that delivered that demo. That's why people described it as a scam- there was no good faith understanding they could deliver what they promised. Compare that to Quibi where they have a platform, they have the content that they paid for. The problem isn't they promised something they can't deliver, the problem is they delivered something no one wants. It's not difficult to see how you'd pour billions into original content and a distribution platform. Netflix does that. It's difficult to understand how a company can show you a fantastic demo, spend billions on development and then produce a product that doesn't even slightly live up to the demo.