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Magic Leap has raised $2.3B in total at a valuation of $6B. A consumer play before product/market fit. I hope there's more to it than what the public knows and that it works out for them 
https://www.bloomberg.com/news/articles/2018-03-07/magic-leap-raises-461-million-from-saudis …
Seemed to me that for successful giant tech companies, the fundamental tech breakthroughs take place before the startup gets formed, then the seed funding is used to find product/market fit, then the big $ is used to scale. Is this naive? Are there historical counter-examples?
Assuming all the $ gets spent, if they sell a $1000 device with a 10% net profit margin, then for investors to even *recoup* their money, Magic Leap will need to sell about 23M units -- nearly as many as the total number of XBox One units ever sold. A bold bet
If you're expecting a 10x return (say, with 20% probability, so you make 2x if you place enough bets, which starts beating the SP500 over the same timescale), you'll need to create a bigger market than the global gaming console market. This is why I'm not in VC
One would argue that the format of funding startups makes it only possible to fund software startups where quick iterations are possible. For hw and hard tech startups, we might need a different set of metrics.
By any chance, are you hiring JavaScript Engineers?
Hardware startups are different. There you need a huge seed funding, just to prove the initial hypothesis.
I wonder how many examples similar to the one you're examing exist in the first place: so to say that within the universe of companies that have evolved this way, how many managed to find routes to success and how? How did the rest most commonly fail?
Right. The sample space for breakthrough tech start-ups (of this degree) seems small.
Investor's money is used to dump goods (and services) to get rid of competition and get market share, attracting more investor's When monopoly is achieved do ICO and raise prices.
That pathway is actually quite recent, most for consumer internet/mobile software plays where hardware platform/market ecosystem already in place. VR/AR similar to most early stage “new paradigm “ investments where lots of money thrown at promising platforms before PM fit.
Apple, Juniper, Palantir, Dropbox, SpaceX, Tesla to name a few.
Dropbox, Apple and Tesla all had some kind of product/tech breakthrough before becoming companies
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