However it shakes out, Apple is already in this space. It has an augmented reality platform called ARKit on the iPhone, which many believe to be the foundational layer for whatever comes next. Google has an AR platform of its own, and Facebook has beenEven with a decade's headstart, Magic Leap couldn't get too far ahead of these giants.
But Magic Leap's biggest enemy was reality itself. Miniaturizing the technology down to a wearable form was a gargantuan and costly task that resulted in the company burning around $50 million a year,. The end result, Magic Leap One, proved disappointing when it was finally revealed in 2017.
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