From a company-wide memo sent by Magic Leap founder Rony Abovitz Thursday:
As we’ve shared over the last several weeks, in order to set Magic Leap on a course for success, we have pivoted to focus on delivering a spatial computing platform for enterprise.
As nearly everyone has finally realized, our actual technology is nothing at all like what we promised, lied about for years, and sold gullible deep-pocketed investors on. Our con is falling apart at the seams, so we’ll milk the last few dollars out of the only investors dumb enough to give us even more money, by repeating the word “enterprise” and doing that thing with our fingers like Obi-Wan Kenobi.
We have closed significant new funding and have very positive momentum towards closing key strategic enterprise partnerships.
You’re not going to believe this but we somehow raised another $350 million. I know, right?
As the board and I planned the changes we made and what Magic Leap needs for this next focused phase, it became clear to us that a change in my role was a natural next step.
Everyone agrees the jig is up.