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 left dumb enough to give us even more money by repeating the word “enterprise” and waving 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 I’ve fucked this up enough.
I discussed this with the board and we have agreed that now is the
time to bring in a new CEO who can help us to commercialize our
focused plan for spatial computing in enterprise. We have been
actively recruiting candidates for this role and I look forward to
sharing more soon.
Our Craigslist ad: “Florida company seeks Bernie Madoff type.”
I have been leading Magic Leap since 2011 (starting in my garage).
We have created a new field. A new medium. And together we have
defined the future of computing.
No one will remember us or anything we’ve done — unless Netflix makes one of those documentaries like the Fyre Festival one. I love that movie. Which makes me think maybe we should change our Craigslist ad to “Billy McFarland type”. Actually, when does he get out of prison?
I am amazed at everything we have built and look forward to
everything Magic Leap will create in the decades to come.
I am amazed that we raised $2.4 billion and have managed to stretch this con out for 7 years and counting. We even convinced Google to invest. Google! Those guys are smart!
I will remain our CEO through the transition and am in discussions
with the board with regards to how I will continue to provide
strategy and vision from a board level. I remain super excited
about Magic Leap’s future and believe deeply in our team and all
of their incredible talent and capabilities.
I guess I should be ashamed of myself but I’m not.