Is there something going on at Magic Leap ($PRIVATE:MAGICLEAP)? It appears that way, because JPMorgan Chase ($JPM) now has more than 1,900 Magic Leap patents as collateral for the augmented reality startup's latest funding. 

"Magic Leap is in the midst of a significant financing round, which will become our Series E when complete. We have already closed a major portion of this round, some as equity and some as convertible debt that will become equity when the round is complete. The participants in this round include existing investors, new investors, and strategic partners." - Magic Leap to Next Reality

Between Magic Leap taking on debt - and not doing a cash round - and the news that much of its patent portfolio is in play if it cannot deliver in the long term, it's tough to understand how optimism would abound here. And, at a time when other top startups are either slashing headcount, valuations, job postings, or all three - Magic Leap job postings appear to signal a red flag. 

That nosedive is scary, because it honestly means the company might be doomed. That's a drop of 59%, for those who are mathematically challenged. 

The official employee count hasn't gone down quite as much, but in a few weeks, you never know. This chart could be the start of another nosedive, if people start to leave as a way to shed the budget. 

About the Data:

Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

Further Reading: 

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