It really is interesting
I find it fascinating to see how some people can create a dedicated team around an idea, raise serious money, and yet fail to bring the awesome idea into existence. Oh sure, Magic Leap has a belt thingy and a goggle thingy, but it utterly failed to make it interesting, and certainly not as interesting as the hype machine it pushed on everyone.
Kind of like the Segway, with the exception that the Segway cannot be faulted for what it does, simply for what we were brought to think it would do. Hype can be a dangerous thing.
Now Magic Leap is gasping for breath, and if I were a VC, I would really be thinking very hard why give money to a company that ate through over $2bn and has a dud to show for it.
JP Morgan is going to get ownership of the patents. What on Earth are they going to do with that ? License to Nreal I guess, and rake in the other license fees that already exist. I wonder what is going to come out of those patents, since what exists now doesn't exactly rock the world.