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Photo: Meta View

A new startup has acquired the assets of defunct augmented reality headset maker Meta. Meta View, as the new company is known, has hired some of the old employees but plans to use the wide-field-of-view headset technology for a particular vertical market (which it isn't identifying).

Why it matters: The once-promising technology has a new home, but its vision of a desktop computer on your face has died with the original Meta. Meta, which had developed two generations of its AR headset, abruptly closed its doors earlier this year.

Details:

  • The CEO is Jay Wright, the former Qualcomm executive who led its Vuforia augmented reality effort, later sold to PTC.
  • The new effort is being funded by Israel's Olive Tree Ventures and BNSG Capital.
  • It has somewhere between 11 and 50 employees, though the company isn't being more specific.

What they're saying: Wright tells Axios that the company is focused on a particular industry, with its planned hardware and software tailored to that market's needs. He contrasted that approach to the rest of the industry, which he said is selling the equivalent of "sporks" rather than a needed utensil. "When you are doing something general purpose, you make all these tradeoffs," he said.

What they're not saying: Meta View isn't saying which market they are targeting or how much funding they have.

  • Wright says he is well aware that most of the current VR industry is also shifting toward business as the consumer market has taken off more slowly than anticipated.
  • "I’m not crazy," he said. "I’ve got a plan."

Go deeper

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.

3 hours ago - Politics & Policy

Pelosi expects “billionaire’s tax” to pay for Biden social spending

Photo: Yasin Ozturk/Anadolu Agency via Getty Images

House Speaker Nancy Pelosi (D-Calif.) said Sunday she expects the chamber to pass the bipartisan infrastructure plan by week’s end, and alternatives to corporate tax hikes and a “billionaires tax” will be used to finance President Biden’s promised expansion to the social safety net.

Why it matters: Pelosi’s comments come as House and Senate leaders try to wrap up a deal. What will get cut — and how the remainder will be paid — are linchpins to a final agreement.