Magic Leap has apparently raised another $350M

Re:Magic Leap has apparently raised another $350M by dvt on Thursday May 21, 2020 @07:07PM (#23266657)

This might sound a bit cynical, but companies like Magic Leap (and WeWork, for that matter) is why I find myself so fatigued with my "startup dreams" -- it's clear that VCs are an echo chamber and that getting in those circles is much more important than ideas, execution, or even profitability. During my brief stint into hardware startups[1], I could barely find people to answer my emails.

Magic Leap is literally garbage (it's downright embarassing when compared to Oculus or HoloLens), and yet they just raised another $350M. It simply boggles the mind.

[1] https://www.pcgamer.com/introducing-gameref-the-anti-cheat-h...

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Re:Magic Leap has apparently raised another $350M by seveibar on Thursday May 21, 2020 @07:14PM (#23266731)

Without knowing the terms of the fundraising, I wouldn't assume that the founders are in a position of power and influence.

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Re:Magic Leap has apparently raised another $350M by nojito on Thursday May 21, 2020 @07:14PM (#23266734)

Products never matter. It's all about execution and convincing others to buy into your execution plan

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Re:Magic Leap has apparently raised another $350M by nyolfen on Thursday May 21, 2020 @07:27PM (#23266856)

that doesn't seem to describe ML either

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Re:Magic Leap has apparently raised another $350M by gremlinsinc on Thursday May 21, 2020 @07:20PM (#23266783)

I like the idea of micro-saas's better than all these unicorns. I love stories from Indiehackers about companies making 5-20k/month w/ 1-2 devs and that's all they need. It pays the bills, gives some freedom to do what they want etc....

Opposed to these behemoth's who really only have a hope and a prayer that they're a bit enough disruption that they will pay off. Like Uber, Groupon, Living Social, WeWork, AirBNB, etc... I think they all could be more valuable had they operated more lean, w/ a solid strategy to monetize early and less focus on VC money and raising seed rounds.

TLDR; I like the little guy stories, and am also fatigued of the giant so-called unicorn stories.

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