Google, Qualcomm and leading venture capitalists have invested $542 million in a startup that creates optical illusions by placing computer images over one's eyeballs.
Miami-based Magic Leap, which creates something called "augmented reality" but hasn't really packaged anything into a product, apparently is hot in Silicon Valley and Hollywood, according to Re/Code, which is likely why Andreessen Horowitz, Obvious Ventures, Kleiner Perkins and Legendary Entertainment are investing. Still, no one seems to be speaking on the record as to why.
The Re/Code suggests this is the "bubbliest" deal they have heard of yet -- putting $542 million into a company that could be a case of the emperor's new clothes. Even more bubbly is the idea that Magic Leap could be valued at $1.6 billion.
