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Saudi Crown Prince Mohammed bin Salman meeting with Magic Leap executives. Photo: Bandar Algaloud/Saudi Kingdom Council/Handout/Anadolu Agency/Getty Images

Magic Leap, the secretive virtual reality company, announced the launch of its long-awaited first commercial product on Wednesday.

The details: Priced at $2,295, the Magic Leap One Creator Edition is an augmented reality headset that "brings digital content to life here in the real world with us," per the company's press release, by superimposing computer-generated effects over the user's surroundings.

The big picture: Magic Leap has spent years raising billions of dollars from investors without a product to show for it. Now, the company will face its first real test as reactions roll in.

A quick take: CNBC reporter Todd Haselton, who was invited to test out the headset, writes the "experience with the goggles...was like a computer-generated 3-D world with real depth."

  • His bottom line: "The Magic Leap One is impressive, and it's unlike any computer I've used before. I see a real future in being able to interact with digital screens inside the real world around us, but Magic Leap is going to need to convince everyone else of that, too. ... I imagine we're years away from the Magic Leap that's ready for the rest of us."

Go deeper

Off the Rails

Episode 4: Trump turns on Barr

Photo illustration: Eniola Odetunde/Axios. Photos: Drew Angerer, Pool/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 4: Trump torches what is arguably the most consequential relationship in his Cabinet.

Attorney General Bill Barr stood behind a chair in the private dining room next to the Oval Office, looming over Donald Trump. The president sat at the head of the table. It was Dec. 1, nearly a month after the election, and Barr had some sharp advice to get off his chest. The president's theories about a stolen election, Barr told Trump, were "bullshit."

In photos: Protests outside fortified capitols draw only small groups

Armed members of the far-right extremist group the Boogaloo Bois near the Michigan Capitol Building in Lansing on Jan. 17. About 20 protesters showed up, AP notes. Photo: Seth Herald/AFP via Getty Images

Small groups of protesters gathered outside fortified statehouses across the U.S. over the weekend ahead of President-elect Joe Biden's inauguration Wednesday.

The big picture: Some protests attracted armed members of far-right extremist groups but there were no reports of clashes, as had been feared. The National Guard and law enforcement outnumbered demonstrators, as security was heightened around the U.S. to avoid a repeat of the Jan. 6 U.S. Capitol riots, per AP.

Felix Salmon, author of Capital
9 hours ago - World

China's economy grows 6.5% in Q4 as country rebounds from coronavirus

A technician installs and checks service robots to be be used for food and medicine delivery in Jiaxing, Zhejiang Province, China, on Sunday. Photo: Hu Xuejun/VCG via Getty Images

China's economy grew at a 6.5% pace in the final quarter of 2020, the national statistics bureau announced Monday local time, topping off a year in which it grew in three of four quarters and by 2.3% in total.

Why it matters: No other major economy managed positive growth in 2020. Although the COVID-19 pandemic was first detected in China, the country got the virus under control and became one of the main positive drivers of the global economy even as the rest of the world was largely under lockdown.