Virtual reality overlaid on the real world in this manner is called mixed reality, or MR. (The goggles are semitransparent, allowing you to see your actual surroundings.) It is more difficult to achieve than the classic fully immersive virtual reality, or VR, where all you see are synthetic images, and in many ways MR is the more powerful of the two technologies. ... Magic Leap is not the only company creating mixed-reality technology, but right now the quality of its virtual visions exceeds all others. Because of this lead, money is pouring into this Florida office park. ... At the beginning of this year, the company completed what may be the largest C-round of financing in history: $793.5 million. To date, investors have funneled $1.4 billion into it. ... to really understand what’s happening at Magic Leap, you need to also understand the tidal wave surging through the entire tech industry. All the major players—Facebook, Google, Apple, Amazon, Microsoft, Sony, Samsung—have whole groups dedicated to artificial reality, and they’re hiring more engineers daily. Facebook alone has over 400 people working on VR. Then there are some 230 other companies, such as Meta, the Void, Atheer, Lytro, and 8i, working furiously on hardware and content for this new platform. To fully appreciate Magic Leap’s gravitational pull, you really must see this emerging industry—every virtual-reality and mixed-reality headset, every VR camera technique, all the novel VR applications, beta-version VR games, every prototype VR social world. ... The recurring discovery I made in each virtual world I entered was that although every one of these environments was fake, the experiences I had in them were genuine. ... The technology forces you to be present—in a way flatscreens do not—so that you gain authentic experiences, as authentic as in real life.
In a rare interview Abovitz says Magic Leap has spent a billion dollars perfecting a prototype and has begun constructing manufacturing lines in Florida, ahead of a release of a consumer version of its technology. When it arrives–best guess is within the next 18 months–it could usher in a new era of computing, a next-generation interface we’ll use for decades to come. ... Magic Leap’s innovation isn’t just a high-tech display–it’s a disruption machine. This technology could affect every business that uses screens or computers and many that don’t. It could kill the $120 billion market for flat-panel displays and shake the $1 trillion global consumer-electronics business to its core. ... The centerpiece of Magic Leap’s technology is a head-mounted display, but the final product should fit into a pair of spectacles. When you’re wearing the device, it doesn’t block your view of the world; the hardware projects an image directly onto your retina through an optics system built into a piece of semitransparent glass (the product won’t fry your eyeballs; it’s replicating the way we naturally observe the world instead of forcing you to stare at a screen). The hardware also constantly gathers information, scanning the room for obstacles, listening for voices, tracking eye movements and watching hands.