Equity Coinbase goes fishing for Opensea’s catch
Oct 15, 2021
This week, the hosts dive into Magic Leap's significant funding round and its pivot to enterprise solutions, sparking a discussion about the future of augmented reality. They explore the exciting merger of MindBody and ClassPass, enhancing fitness and digital coworking. The conversation shifts to the innovative health tech model of mPharma, highlighting the evolution of mental health care. Lastly, they discuss the competitive NFT landscape, as Coinbase takes on OpenSea, turning the tides in the crypto scene. Lots of laughter and insider insights await!
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Magic Leap's Struggles
- Magic Leap, an AR company, has faced challenges like changing its focus from consumers to enterprise.
- It initially aimed to sell 1 million headsets but only sold 6,000 in six months.
AR Development Challenges
- Developing AR technology involves building both hardware and software, creating a two-sided marketplace challenge.
- Microsoft's HoloLens also focuses on enterprise due to the difficulty of building consumer networks.
Magic Leap's Valuation
- Magic Leap was rumored to be pursuing a sale at $10 billion but then raised money at a $2 billion valuation.
- This contradicts the earlier rumored valuation and suggests a strategic move to attract buyers.