Pros
I found it extremely hard to research Magic Leap before I joined as there isn't that much info out there. Until recently the company has been extremely secretive about every detail of the company. The company has also grown tremendously growing from about 1200 employees to 1800 or so they are at now. Magic Leap is founded by a true visionary, Rony, whose mind is not bounded by space or time. Underneath him are extremely capable leaders who turn this vision into execution. The company has four north stars that are each ambitious enough for one company to tackle. The company seems to benchmark top-tier tech companies in terms of benefits and working conditions overall. My experience is very comparable to previously working at Microsoft. While they have over 10 offices arounds the world (and are opening more each year), the majority of people are in Plantation, a Western suburb of Fort Lauderdale. The area is a huge cultural adjustment from the West Coast and so far I love it. The cost of living is massively better than the Bay Area or Seattle. Plus you can always move back if things don't work out. My households goods move was less than $15,000. As with any company your experience will vary based on the team you're on. I am fortunate enough to work on an amazing team with a very high bar of talent and a fantastic manager. The acceptance rate at Magic Leap is extremely low, which translates to a pretty high level of full-time employee. I've been super impressed with how many subject matter experts, industry thought leaders, and just 'get stuff done' people are at the company. I have found the systems, tools, and processes to be better than anywhere I've been - from on-boarding to booking travel to managing benefit elections, etc.
Cons
Experiences vary by team greatly. During crunch times, hours can be long for some teams. For me, the hours are typical for a strategic BD role. The company has more than doubled in size in less than 2 years and there are growing pains that come with this. I believe this has led to an experience which can vary greatly from person to person. The company has gotten better at translating vision to strategy to execution, but that loop is still in progress. With some strategy and leadership changes, the company seems on the right path. Equity comes in the form of options (research options versus grants), which are a great fit for someone looking for a long-term company tenure. If you're a serial SV job hopper who is going to leave in 18 months regardless, then this isn't the best spot for you.