Hard things

The supposed “Photonic Lightfield Chips” are just waveguides paired with reflective sequential-color LCOS displays and LED illumination, the same technology everyone else has been using for years, including Microsoft in their last-gen HoloLens. The ML1 is a not a “lightfield projector” or display by any broadly accepted definition, and as a Bi-Focal Display, only solves vergence-accommodation conflict in contrived demos that put all UI and environmental elements at one of two focus planes. Mismatch occurs at all other depths. In much the same way, a broken clock displays the correct time twice a day.

http://palmerluckey.com/magic-leap-is-a-tragic-heap/

Bad sales

According to a report from The Information, the augmented reality startup and Silicon Valley darling only sold approximately 6,000 units of its $2,300 Magic Leap One Creator Edition mixed-reality headset through the first six months that it was available.

Company recently laid off "dozens" of employees across multiple departments. The company has instituted other cost-saving measures as well, such as freezing work travel for some departments and slowing the pace at which it hires new employees. Unsurprisingly, it also appears Magic Leap has a long road towards sustainability; the company apparently burned through between $40 and $50 million per month through much of 2018.

Modern capitalism, no profits, lot of buzz.

According to Business Insider and The Information, company chief Rony Abovitz told his employees in a memo that Magic Leap has managed to raise $350 million from existing and new investors.

This guys are like magicians, don't do anything good or useful and get tons of money.

Seems like all of this money comes freshly printed from US goverment.