I understand where you're coming from but the difference is that Theranos claims were literally impossible due to how human skin and circulatory system works. Whereas Magic Leap AR is only extremely difficult. If they throw enough billions at it they might eventually ship something that sort of works.
While your comment has merit, I think it’s unfair to compare Magic Leap to Theranos. One did actual bloodwork on people and fucked with your health...the other promised a whale jumping in a gym...
Business practice/promise aside, Theranos had the ability to negatively influence a person’s health. Magic Leap can only under deliver.
Magic leap has released something (although it’s not that amazing). It’s assumed that what is shown to investors is much too large for a consumer product but the promise is that they will someday get the tech to a consumer level.
I doubt they’ve been faking anything to investors like Theranos.
Magic Leap actually have a product and it's actually pretty damn good at what it does. What they don't have is revenue. There just isn't a big enough market for mixed reality headsets.
What they sell is not the product that they teased. People got excited by their amazing promises of light beamed to your eyes and we got a lackluster Hololens bis. Bait&Switch