Disclosed herein are systems and methods for presenting and annotating virtual content. According to an example method, a virtual object is presented to a first user at a first position via a transmissive display of a wearable device. A first input is received from the first user. In response to receiving the first input, a virtual annotation is presented at a first displacement from the first position. A first data is transmitted to a second user, the first data associated with the virtual annotation and the first displacement. A second input is received from the second user. In response to receiving the second input, the virtual annotation is presented to the first user at a second displacement from the first position. Second data is transmitted to a remote server, the second data associated with the virtual object, the virtual annotation, the second displacement, and the first position.