Magic Leap, which recently laid of half its workforce, has signed a $100M term sheet with a “major health care company” to develop augmented reality tech for surgical use

Hugh Langley – Business Insider

Link to story

Context

• Magic Leap’s possible death throes have little to do with COVID-19
• Magic Leap’s $2.6 billion bait and switch

Discussion

Brian Merchant: “This is incredible. Magic Leap raised $2
billion from Google + the Saudis. It made Wired covers, drew gushing
praise. Now it’s dead if it doesn’t get lifeline funding from a medical
tech firm. It is asking employees not to sue in exchange for $250 + a free
headset. What a fall.…”

Lucas Matney: “Magic leap’s quest for a lifeline has apparently
directed them towards a Warsaw, Indiana medtech firm. Let’s see just how
far from a $10 billion valuation they stray.”