Magic Leap

Magic Leap raised $2.6 billion promising a revolutionary mixed-reality headset with photonics that would transform entertainment, yet shipped a clunky device that sold only 6,000 units to early adopters. In 2020, the company pivoted to enterprise, a retreat far more ignominious than Juicero's failure, given its massive funding. The average consumer headset today costs 40% less than Magic Leap's initial $2,295 price, yet offers comparable functionality.