I asked her the same / similar question.
It a big story, but here is a short version.
As it turned out she was the head person in charge of all RD hardware development in Valve and she owns / owned the patents to most of the tech and lens for AR.
Valve done a kick starter about 5 years ago for the product when it was called CastAR. ( it was AR everywhere in the real world then )
Some time after the kickstarter ended Valve made a corporate decision to stop all work on all AR and focus on VR only.
She made sure everyone that everyone in the kickstarter back then, got all their money refunded.
She then brought out all the rest of the AR hardware and research from Valve.
Then made her own company and they spent the last 5 years to make the product what it is now. ( AR somewhere, focused on the retro mat )
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