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This is notable not just because of Neal Stephenson, but because his blog post contains what I think is the most detailed public description of the tech so far: ---
Here’s where you’re probably expecting the sales pitch about how mind-blowingly awesome the demo was. But it’s a little more interesting than that. Yes, I saw something on that optical table I had never seen before--something that only Magic Leap, as far as I know, is capable of doing. And it was pretty cool. But what fascinated me wasn’t what Magic Leap had done but rather what it was about to start doing. Magic Leap is mustering an arsenal of techniques--some tried and true, others unbelievably advanced--to produce a synthesized light field that falls upon the retina in the same way as light reflected from real objects in your environment. Depth perception, in this system, isn’t just a trick played on the brain by showing it two slightly different images. Most of the work to be done is in applied physics, with a sizable dollop of biology--for there’s no way to make this happen without an intimate understanding of how the eye sees, and the brain assembles a three-dimensional model of reality. I’m fascinated by the science, but not qualified to work on it. Where I hope I can be of use is in thinking about what to do with this tech once it is available to the general public. "Chief Futurist" runs the risk of being a disembodied brain on a stick. I took the job on the understanding that I would have the opportunity to get a few things done.
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I think that there's a presumption (that I've shared) that Magic Leap is trying to make AR goggles or glasses. But, as has been extensively commented upon in the past, that's just crazy. We're just barely at the point of doing semi-decent VR (Oculus Rift) and just barely at the point of doing semi-decent wearable heads-up displays (Google Glass). The idea that Magic Leap could in any foreseeable timeframe create a device that has all the virtues of the Rift + Glass + A huge dose of additional technology on top of both is just laughable.
But if they're trying for something much heavier-weight, like the ability to create convincing illusions not in the form-factor of "some goggles," but rather, "a specially prepared room and table," then that's maybe a little more realistic -- and of course less obviously revolutionary.