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IslandChillin t1_j23g9js wrote

450M is like nothing to Saudi Arabia. The Saudi portfolio is getting ridiculous tbh

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Dave_99888 t1_j23igqb wrote

awww shit, whatever they want it for, its not going to be good.

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vuxanov t1_j23jnr2 wrote

Now you can cut journalists limbs off in VR

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Konras t1_j23jxkv wrote

Will rebrand it to Magic Leak.

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Mad_currawong t1_j23qjqy wrote

My friend worked on ML in dev team… he says it was all smoke and mirrors

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hurtfulproduct t1_j23r42e wrote

Considering how little we have heard or seen in the last few years from them this acquisition might cause them to actually make progress. . . Unfortunately it will likely be progress in the completely wrong direction

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elcaminoZero t1_j23ukpo wrote

ML built a production facility near my old job in Austin, TX around 8 years ago. Still waiting to hear something major from them. Only product I recall seeing was on a YouTube review and it was pretty underwhelming.

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asdaaaaaaaa t1_j241sjr wrote

Replying to Dickenshmirst (#1,145,211)

One rule I follow with companies (and government organizations) is that they like to brag, show off, advertise their successes. In most situations, if they had something to brag about (especially with releasing/advertising products and such), they do. I tend to look for what's missing in that stuff, as it an sometimes give a better indication of what's going on than what little information companies can give out.

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samz22 t1_j242mik wrote

Replying to IslandChillin (#1,142,403)

I feel like there just burning money, few get a return but not instantly it’s a long hold. So if they keep burning money on garbage companies, how long till people start making companies just to please the saudis and get their investments and bounce lol

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oodelay t1_j2435ir wrote

Saudi Arabia should just buy everything and be over with it.

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Moe_Capp t1_j249gsq wrote

Replying to Mad_currawong (#1,143,989)

The very first released Magic Leap One device in 2018 proved beyond a shadow of a doubt they really had no particular edge with their supposedly special patented display technology. They did a pretty good job with everything else but the most important part. It doesn't matter how great the display looks if it has the FOV of a postage stamp.

Most of AR is long figured out by now except for two important things. Practical wide-enough FOV displays, and mobile micro power supplies. At the rate its going it could be another decade or more before a viable consumer product.

Nobody has solved the AR display problem yet despite the largest tech companies pouring billions of dollars into research over the last decade. Every year even Apple keeps coming up with new delays for its own take on smart glasses. They also seem to have everything figured out except for the most important part.

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Dickenshmirst t1_j24bk2v wrote

Replying to asdaaaaaaaa (#1,146,260)

That is absolutely true. The crazy thing is that they’ve raised millions from investors including the likes of Google, for vaporware. Seems like a money laundering scheme with A LOT of extra steps lol

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Broad_Bag_5526 t1_j24l75y wrote

The KSA has been an investor in Magic Leap for over a decade now. They're just increasing their stake.

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HSdoc t1_j24lc2z wrote

Magic leap is such a con, but I so glad they coned Saudis.

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futurespacecadet t1_j24oo2w wrote

Magic leap was cutting edge as it was the first company to do marketing in the space. and it was good marketing, but wtf have they actually done? its been years and millions of dollars, i have yet to see anything. prob a scam

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tomistruth t1_j24pzhx wrote

Saudis are the biggest suckers for things they can't make, don't understand and will never be able to monetize. Imagine the Nigerian Prince meeting Saudis. That's what McKinsey and Saudi Arabia are.

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Kripto t1_j24stj7 wrote

They probably have a demo which is pretty impressive to those not up to date in the field, but I predict they will be steamrolled due to patents and resources held by the bigger players in the market.

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bicameral_mind t1_j25dh55 wrote

Replying to Zhukov-74 (#1,144,068)

It's easy when nearly all wealth is concentrated in the hands of one ruling family, effectively one person. Nothing pesky like disagreement or conflict of interest getting in the way like democratic governance. We aren't really talking about a 'country' here.

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bicameral_mind t1_j25efb5 wrote

Replying to Moe_Capp (#1,147,771)

Pass through like the Quest Pro has is really the only way forward for AR with current tech. Unfortunately pass through has many draw backs that kind of undermine the potential of the technology in the first place. Resolution limitations on display and cameras, lighting fluctuations due to camera exposures, lack of true color in real spaces, etc. Software can theoretically mitigate some of this but then you get to the compute problem and it's very taxing.

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Neato_Orpheus t1_j25rjlv wrote

Replying to [deleted] (#1,158,403)

I would argue that china manufactures products developed in the west. And then make copies of what the west designs. I can’t really think of products they’ve innovated.

They innovate In process and manufacturing. And again, there is more freedom of thought in China than Saudi Arabia.

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imeeme t1_j25z4o8 wrote

Neom! I mean, Neat!

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HolyAndOblivious t1_j26eg76 wrote

Replying to Test19s (#1,163,096)

I know this is gonna sound weird. The Chinese way of "electing" leaders seemed to work for the country. If you ask me, the greatest damage Xi has done to the country is breaking tradition.

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squidking78 t1_j26xsea wrote

“Country that still publicly beheads people and enjoys many other medieval practices tried to profit off tech thousands of years ahead of it”.

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JC2535 t1_j26zvxc wrote

In the Venture Capital space, you can make lots of money over promising and under delivering for years. The big red flag is when the square footage allotted to marketing is larger than the square footage assigned to Research & Development. Sometimes you can actually measure the scam.

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BiZender t1_j270cr0 wrote

Now what they need to do is purchase META. Such a double win for the world.

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regularITdude t1_j271pjp wrote

Replying to Dtfran (#1,163,376)

it's not, They flopped hard on their first model and underwhelmed consumers and developers who arguably weren't ready. They have since replaced leadership, pivoted to commercial, and released an impressive 2nd model. They do a lot of manufacturing, health, and defense deals that go largely under the radar. They have accrued a concerning amount of debt, but continue to impress investors with demos. They never repaired their impression with consumers because they didn't need to. They should be concerned with developers though. It's a promising company that could easily be picked up for quadruple this amount if Amazon, Google, Nvidia or whoever decides they want to take a magic leap to the front of the AR space.

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HSdoc t1_j272zmr wrote

It's another example of over promising and under performing. Magic leap has never made anything till now , just complete fabrication. I would put them in same place as Theranos or Nikola truck.

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ltethe t1_j27ofa0 wrote

Oh man, I worked for Magic Leap when the Saudi Crown Prince came to visit and give us his infusion of cash. It was fun and games until a few months later when the Khashoggi killings happened, then I was like, well, we’ve got a very uncomfortable bedfellow here.

Also, Rony seemed like a pretty devout Jew, so it just goes to show that all’s fair when it comes to money.

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dewayneestes t1_j27rc2e wrote

Imagine if all the billionaires moved to the Metaverse and left the rest of us alone.

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Moe_Capp t1_j2984mj wrote

Replying to regularITdude (#1,168,052)

Well that's an improvement at least, more realistic for some enterprise applications.

If the company hangs in there, then by the time there's viable and affordable hardware that can be mass produced, they could be in a strong position, with a mature software library and tracking systems.

Though that could be three more years or it could be ten more.

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Neato_Orpheus t1_j2a6twj wrote

Replying to millennium-wisdom (#1,176,966)

Well considering that they weren’t capitalist societies I don’t think those apply.

And also what civilization and what time? India was not India until after the British Raj. The sub-continent had a variety of states.

Egyptian civilization lasted 1000s of years and we don’t see a lot of innovation from them comparatively. They were still using Bronze weapons until the Hitties showed up with Iron.

China did have a lot of innovation but usually when it wasnt a Legalist dynasty in power. All their golden ages came from the least repressive regimes. The Han and Tang dynasties were very open compared to their predecessors.

And the caliphs of the Muslim empires had some of the most open courts in the world. Scholars and Scientist from all over the world went to their courts. Chemistry and Math had their foundations there. The whole reason we have Plato’s and Aristotle’s texts are because they kept the records as well as developed the numerals we use today. That’s not repressive.

You don’t know what your talking about

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millennium-wisdom t1_j2d1kre wrote

Replying to Neato_Orpheus (#1,192,605)

The Arabian civilization were the first capitalist society. They invented capitalism.

Muhammad ﷺ was the first Capitalist

Here are eleven basic principles set by him.

1 The Prophet ﷺ set up a market for the people, not controlled by the state.

2 He ﷺ did not tax it.

3 He ﷺ "was going to set prices, but determined that prices are in the hands of Allah."

4 People can own wealth, land, & the means of production.

5 The ruler has no rights over people's wealth (this hugely limits the ability to levy taxes).

6 The primary concern of the ruler, as per Sayyidna Umar, is "the stomachs of the poor."

7 Wealth sitting idle for a year is to be given to the poor at a rate of 2.5%.

8 Money-lending is an unlawful industry when the loan results in an increased return for the lender.

9 Finance requires partnership.

10 Wealth is better from the aspect of helping others: advancing the deen, supporting the needy, not having to ask people for money.

11 Poverty is better for one's own individual soul, based on the hadith, "You will conquer Persian & Byzantium and have one dress for the morning and another one in the evening.

See. Early Islam and the Birth of Capitalism Book by Benedikt Koehler

Egyptian invented lots of things. Off my head all musical instruments, the calendar alchemy.

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