Recode Daily: Magic Leap’s much-hyped AR tech is nowhere close to reality


The company has raked in $1.4 billion in funding at a valuation of $4.5 billion.

Secretive augmented-reality startup Magic Leap dazzled consumers, recruited employees and attracted $1.4 billion in funding using videos created with special effects and technology that will not make it to commercial release. The gear currently being prototyped is something closer to Microsoft’s HoloLens, but not as far along. — [Reed Albergotti / The Information]

Lawsuits filed by Facebook investors allege board member Marc Andreessen failed to properly represent minority shareholders and instead secretly advised Mark Zuckerberg in a board debate over creating a new class of stock. — [Sarah Frier and Jef Feeley / Bloomberg]

Two prominent tech analysts are getting new gigs. Gene Munster, the industry’s most prominent Apple analyst, is leaving Piper Jaffray to start a new venture capital firm, and Robert Peck of SunTrust Robinson Humphrey is joining Credit Suisse as head of global internet investment banking. — [Benzinga]

Donald Trump’s pick for labor secretary is fast-food executive Andrew Puzder, a critic of Obama administration workplace regulations and an opponent of increases in the minimum wage. — [Noam Scheiber / New York Times]

Microsoft finalized its acquisition of LinkedIn and laid out plans to integrate its features in various Microsoft products. Microsoft is looking to avoid some of the problems it has had with earlier acquisitions by giving LinkedIn a significant degree of independence. — [Tom Warren / The Verge]

YouTube has reached a settlement, estimated to be worth more than $40 million, with the National Music Publishers’ Association over unpaid songwriting royalties. — [Ben Sisario / New York Times]

On the latest episode of Too Embarrassed to Ask, Recode’s Kara Swisher and The Verge’s Lauren Goode and Dan Seifert talk about the best way to start with “smart home” gadgets. — [Eric Johnson / Recode]

Top Stories From Recode

Tinder’s Sean Rad is stepping down as CEO to become chairman

Match Group CEO Greg Blatt is taking over as CEO of Tinder.

Why Gamergate in 2014 was a warm-up to Trump’s 2016

Video game fans got a sneak peek at post-factual politics, Rooster Teeth co-founder Burnie Burns says.

‘Chewbacca Mom’ was the most popular Facebook Live video this year by a mile

The video has 162 million views.

Full transcript: Brew PR founder Brooke Hammerling on Recode Media

“If you view us as service providers, we’re in the wrong relationship. We need to be considered partners and extensions of the brand.”

Smartwatches, like tablets, are struggling to become a must-have for consumers

IDC just released its third-quarter market share results for wearables, and it was not pretty.

This Is Cool

Godspeed, John Glenn

Here’s some newsreel coverage and NASA footage of Glenn’s 1962 orbital flight and a PBS interview on the 50th anniversary.

via http://ift.tt/2gIEahN

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