A good read overall, and hopefully gives some peace of mind to those that thought Pimax were in financial dire straits. Interesting to hear Robin mention lightweight headsets in particular, I guess that’s the next direction.
Also, first mention of 12K potential release date in a lot time:
Also since when is 45PPD an option for 12k? I know Kevin had mentioned on discord that they were looking into swappable lenses for the 12k, so I guess perhaps that’s going ahead now? I doubt it refers to the retina projector thing, I think that was enterprise only and was meant to be more like 60PPD.
No idea what that means. Perhaps it means split rendering?
Edit: Just realised they mean dual mode as in PCVR and standalone.
I’ve been saying for years Pimax we’re in dire straights and this latest sell out proves it.
Pimax burn through $5 million a year in running costs alone and have yet to break even after raising $15million and then $20 million over the last few years.
I don’t see Crystal or the 12k selling enough to make back that fresh $30 million and the other $35 million is now a write off imo.
Pimax are going to have to dump that overly large chassis asap if they are going to be a competitor in the next 3 years. So a whole new series needs to be worked on.
The biggest problem with Pimax is they never create a product that will sell to mass the consumer market. Remaining a niche company with niche products that only run on niche GPUs means you’ll never create an eco system that has any chance of a long term future.
Crystal as a stand-alone is useless. The 12k is non existent. The 8kX is no longer on sale in most stores. Portal is DOA.
You seem to forget that these types of funding don’t necessarily mean anything. There can be agreements in place for sharing of research and tech licensing.
During the p4k days they had a deal with Aukey for them to sell an Aukey 4k vr hmd that was simply rebranded but ran pimax software & Firmware and came with pimax logo speakers. Aukey was possibly the manufacturing firm.
A company with investors doesn’t mean there in trouble. What there researching is not cheap to do as no other player seems to be doing much.
The Reality Series can easily recoup these investments. Much like the earlier KS funding has likely long ago been taken care of.
Portal is Live and well. Marcin is providing regular updates on his unofficial reddit sub.
8kX is still selling regardless if some channels are out of stock and you presuming Crystal Standalone will not be useful. Hint Portal is being used to help get content fir standalone.
12k does exist in part just no new info and not released.
Growing bigger debt yes. Growing a bigger employee list yes. Growing bigger profits? No.
Pimax have an unsustainable business model where expenditure far outweighs income.
To become sustainable you have to break even. To have money for further headsets you need profits.
VR HMDs have a life cycle of 3 years so unless Pimax make enough profit in 3 years they’ll have nothing in the bank to fund the next 3 years. Pimax have never done this in 7 years. They’ve had 3 rounds of funding and the Kickstarter.
I don’t see Crystal or the 12k making a profit in 3 years so we’ll be back to the same old arguments and denials.
This would generally prove the opposite. Growing investment each round is a sign that the company is doing well, with investors liking what they see.
What are you basing this on? If you think a company must be not breaking even for them to get investment funds then I’d like to assure you that that’s not the case. If that’s not it then would definitely like to see what this opinion is based on.
Why would they need to make it back with products just about to launch? Rounds of investment funds like this aren’t really focused on the next 1-3 years, usually more like 5-10.
I do think they’ll go for a small form factor XR headset sooner than later.
The portal is arguably very much that. Of course people here won’t like it but that’s because we very much are not in the mass consumer market.
Their headsets, except for a single one, run on all GPUs. Also I hardly call nVidia a niche GPU company.
Except investors have seen enough potential to invest 3 times now in larger amounts than each time before, and this comes during a time notoriously dry for investments of this kind. You’re basing all of this on essentially nothing, yet claiming that people will access to all the info and that invest for a living much be mistaken?
Your post just reads as hating for the sake of hating, I thought you had moved past this Atmos. I’ve become fairly disillusioned and somewhat jaded over the last 6 months with how Pimax have been handling everything, but even at that I see your post as being quite over the top in it’s negativity.
I’m open to having my mind changed though, if you can actually back up anything you’re saying.
It is clearly evident you don’t understand investment funding.
I strongly suggest you watch a couple seasons of Shark Tank/Dragon’s Den. Pimax having investors proves like others have stated positive growth. The KS series of funding has more than likely been paid off. People and Companies at this level do not invest in sinking ships they invest in rising companies.
Your tunnel vision short-sightedness is showing again. Your basing your ideals on unknown information presuming profit margins etc…
Pimax has many products and your stuck on one. So please don’t travel this rabbit hole of doom and gloom again. You obviously do not understand the business.
Did you know that Intel, Nvidia and Amd also have to constantly innovate to continue/survive? And you are aware of the layoffs and offer of unpaid leave at Intel?
Maybe we should join you in the rabbit hole and presume there will be no computers to run VR.
You are calculating the injection of 30 million capital as a cost of 10 million per year, when in reality it’s the total opposite. So even the one single point you tried to make is actually the opposite of what you intended.
So os the little girl with a lemon stand. Investment funding you need to know the details which you do not… As @SmallBaguette said these are not necessarily loans like you presume.
The government bail outs Ford, GM and Dodge at one rime applied fir would not require repayment if the government accepted there applications.
