Is the Conona bubble finally bursting for tech stocks? FAANG stocks, along with Tesla and Microsoft, finally took a breather, giving up some of their phenomenal gains. Marketwatch says the bull will be back. Even smaller public companies focused on XR, like VUZI (Vuzix) and EXPI (VirBELA) have seen their value increase over 400% since the onset of the pandemic.
Can the US really ban Tik Tok? The deadline is nine days away. Microsoft says it’s not enough time. Tik Tok’s sued the government. In the event of a tok block, here’s a simple workaround for iPhone users. Change your phone’s home location to Canada. It’s easy. Here’s how. This won’t affect other servies. Thus the Tik shall Tok. Censorship be damned.
Minecraft for Playstation VR. Since its release 2011, the game has attracted over 125 million users, making Minecraft is one of the most successful games of all time.
Magic Leap’s valuation has gone from $6.7 billion to around $450 million following a year of layoffs and the departure of Rony Abovitz as CEO. Oh, and a complete change of strategy. The average investor’s stake’s worth was downgraded by an average of 93% between January and June this year, according to The Information. The world is watching as new CEO Peggy Johnson takes the helm.
ICYMI, here are our top stories from last week:
Nreal Smartglasses just got a $40M boost. Bringing the total raise by the Chinese company to over $70M. The Nreal Light glasses, now available in South Korea as a 5G – Samsung Galaxy bundle, are coming to the US later this fall priced to sell at $500. Both Apple and Facebook are working on smartglasses, which are expected several years from now.
HTC CEO Yves Maitre resigns after a turbulent year. HTC said the French exec has been separated from his family for nearly a year.
This Week in XR is now a podcast hosted by Paramount’s Futurist Ted Schilowitz. You can find it on podcasting platforms Spotify iTunes and YouTube.
“This Week in XR” is written and edited with Mike Eichenseer.