Magic Leap is actually way behind, like we always suspected it was

12 December, 2016, 20:33 | Author: Alejandro Stokes

Rony Abovitz calls "cinematic reality"-an augmented-reality technology blending together "virtual reality and an acid trip". But according to ex-employees of Magic Leap, the game didn't exist inside the company at the time, and the video was made by a special effects firm.

The Information has revealed that mysterious company Magic Leap, which is valued at $4.5 billion after raising $793.5 million in Series C investment recently, has been faking their singular demo video of the technology.

The Plantation, Florida-based company, now valued at $4.5 billion, seems to have convinced most investors to provide their backing using similarly impressive demos from early prototypes.

"I also found that the transition back to the real world while removing the Magic Leap's optics was effortless, as comfortable as slipping off sunglasses, which I also did not experience in other systems".

The revelations undermine one of the most secretive startups in the technology industry, casting Magic Leap as a fast-growing startup that has overhyped its product with wild marketing stunts and unrealized ambition. However, The Information reveals the entire video was created by the studio. The first-person video begins with an employee using some kind of wearable headset or eyeglasses technology to check his e-mail, which is superimposed over the real world, before loading up a video game that transforms his empty office into a battleground filled with hostile robots.

Yang stated back in May: "In trying out Magic Leap's prototype, I found that it worked amazingly well close up, within arm's reach, which was not true of numerous other mixed- and virtual-reality systems I used".

IBTimes UK has contacted Magic Leap for comment and will update this story if and when it receives a response.

Magic Leap's coveted mixed reality technology has been the subject of intense speculation since it broke ground in 2014. The HoloLens is now available in a developer kit form for $3,000, and it can be worn completely untethered from a computer.

Over the course of about 20 hours, he tweeted over two dozen messages about everything from the difficulty of working at a startup to the games that will be played at the Magic Leap launch without ever directly calling out Reed Albergotti or the article.

Despite this, Magic Leap has been able to maintain the interest of companies including Google, Alibaba and Warner Bros with impressive tech demos showing off the abilities of its mixed reality technology. It's known internally as the PEQ, for product equivalent, and yet Magic Leap declined to demonstrate it for The Information.

Now, the company has apparently relegated the technology, originally touted as the breakthrough element that would allow for a much smaller device than rival products, to a long-term research project.