Magic Leap Flounders

Layoffs continue to affect all industries, including tech headset startup Magic Leap, which was billed as the future of virtual reality. The company laid off half its workforce this week. Quarantine could have been a time for AR and VR to thrive, but it fell short of consumers' expectations.

In other news, The New York Times has renamed its travel section; Facebook revealed new video features; and Facebook's $5 billion settlement with the FTC is official.

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Messenger Rooms will enable up to 50 people to join group video calls.

Users can send up to three gifts to friends and family free-of-charge.

A federal court approved the agreement, originally reached last July.