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So it's basically like an online version of the kind of services you get with some of the higher-end credit cards (AMEX black,etc).

It's a smart move on their part. They finally have a solid business plan.

Had a black (Centurion) card for years. Was underwhelmed. They did very little extra, and even botched the one important assignment I gave them (front row seats to a concert they sponsored). Given that the black card costs $10k/year, Magic starts to look acceptable.
Perhaps you're confusing it with another card? The annual fee for the Centurion is only $2,500, although there is an initiation fee which, if memory serves, they raised to $7,500 (from $5,000) a couple years or so ago.
The fees are different in different countries.
One for me, one for my wife
$100 per hour seems ridiculous -- at that point it's more economical to go through the rigmarole of hiring an assistant off Craigslist and managing them yourself.
Really depends on a) how Magic actually bills (as in, how many minutes do they take for tasks) and b) what kind of tasks you use them for.

Your personally hired assistant won't be there 24/7 and will take way longer for many tasks, since I bet Magic is going to work on having direct and fast overview over and access to as many services as possible. But for many time-flexible tasks (booking trips, managing contacts, small research tasks, ...) Magic isn't so viable anymore.

I find it funny that, according to the screenshots, the $3,000 USD/month "Power-User Plan" is the "Most popular plan" -- even though (per the article) "the hourly fee will be kicking in tomorrow".

Some people don't understand why I have a, to put it mildly, overwhelming dislike for -- and zero trust of -- sales and marketing people. This is a perfect example: outright, blatant dishonesty.

> This is a perfect example: outright, blatant dishonesty

To give them at least the benefit of doubt. Perhaps they have run this through some form of beta testing and found that?

Or, as you say, they are just using it as a psychological tool.

Fascinating news. In the meantime before Facebook M launches I'll be just using GoButler.