Magic Leap Layoffs, General Magic Movie (2:04)

Magic Leap haters abound, but what they tried to create was hard. They were inventing technology and creating an entire stack that didn’t previously exist. For a startup company, it’s reminiscent of General Magic, who created the first handheld computer in the ’90s. Magic Leap laid off half their workers last week, reported to be around 1000 people, as they seek an additional $100 million investment. They’re focusing on the medical tech industry, where their product-market fit is high, and they can solve a real problem: training medical staff from nurses, doctors, and surgeons to medical researchers. For those ex-employees going through the inevitable emotional trauma of meaningful job loss, “Failure isn’t the end, it’s the beginning.” So all the Magic Leap Haters, take a chill pill.