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How is magic leap burning through so much cash? It can't be all salaries and at the same time they don't seem to be selling a ton of devices at a loss.

Are they building factories or something?

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Nepotism. The people running the company hired all of their friends and family into kooshy do-nothing positions.

I've seen this ! My fav-no-useful positions I've seen filled was a "Business-Analysis" and "UX-Expert(basically a graphics artist)". The B.A spend his days drawing the most useless and not even pretty diagrams of how the "new business" which never arrived was going to work and integrate with our current systems(which he had no clue how they worked or what their limitations were). Lol those graphs and diagrams had more fantasy in them than all of the LOTR combined. Once we got to retrenchments he was the first to go and the loudest to protest of the unfairness !

Sounds like WeWork...

1600 employees. Billions raised. Big hype, but what actually shipped is similar to a three-year-old Hololens.

Do you have any specifics? Who were the friends-and-family hires at Magic Leap?

"Magic Leap is estimated to have over 1,800 employees and 19 office sites."

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