Magic Leap was flush with hype and billions of dollars of funding. Its failure to take off proves how the next generation of computing will be owned by industry giants with greater resources.

· Magic Leap is in a bad way. It just laid off almost half of its staff and CEO Rony Abovitz is stepping down. But was it always destined to fail?
· Magic Leap wanted to build the next generation of computing with just a fraction of the resources of the tech giants. Despite raising billions in investment from huge backers, it...