I am evaluating an opportunity with the ML Enterprise sales team and would like some insights on 1. how is the culture under Peggy (vs Rony) 2. how long is the runway. Context: I've been in the Enterprise AR/VR space since Google Glass and it has been a real rollercoaster. I believe AR/VR/XR will transform the Enterprise but things will go slower than desired, even with COVID acceleration. I find the new CEO and C-suite additions very credible so I think they can get it right (i.e. the right enterprise bundle) but time is of the essence: 1. Can they change the culture fast enough and 2. can they get ML2 and perhaps ML3 out fast enough? Can you offer any insights? #ar #vr #xr
It’s a completely new company, that’s for sure. Changes in the right direction. Can’t say whether we’ll be successful long term or not, but all of the pieces are there now to allow for that chance. Rony getting booted out and hiring Peggy was the best thing to happen to the company.
Thank you so much. Can you speak to how /if the culture is changing? The general sentiment? If folks are getting jazzed again? Thank you...
Rony hasn’t been fully booted out, he is still on the board.
I agree with SW_John, I definitely feel like Peggy is more focused than Rony ever was. A lot of the bad apples in upper management are also slowly being rooted out. The new senior leadership that have been coming in from Microsoft and Google do give me optimism because they left really stable companies to join this startup. That really says something. I would also add that it is hard to see the fruits of her labor though because Peggy has only been around for less than a year. I see pockets of change and optimism, but its gonna take time to see the full impact.
They laid off 1000 people and were struggling last year. Things likely haven’t changed much and you’re gonna have a hell of a bad time in the sales team with that outlook. Even if you believe in AR/VR/XR, Magic Leap isn’t the company to go with.
Thanks. I know how bad things were/are but they have made a 180 and there is a good chance they can pull through IF the culture can change fast enough (where layoffs actually help) AND have at least 18 but preferably 24 months runway. They raised 350m recently and their Defense and Healthcare divisions seem to be generating revenue. They will have a new product (presumably enterprise-friendly) shipping q1 2022 so if that is good enough Enterprise could be generating meaningful revenue Q2-Q3...so in 18 monhts. But this is the ideal scenario, so to be on the safe side looking at 24 months. Do they have that kind of money in the bank?