So, yeah, Facebook just announced it is acquiring VR headset company Oculus Rift for $2B. Wow and holy cow, what does this mean for the industry?
Take a look at Mark Zuckerberg's Status Update announcement. Mark discusses the amazing potential of virtual reality as a new platform and some pretty amazing experiences, but doesn't really mention anything about how this relates to Facebook, other than their mission to make the world more open and connected.
This acquisition is certainly going to make the founders and investors at Oculus very happy, and if they are allowed to continue operating independently, this huge cash influx should hopefully accelerate everything that Oculus is working on, but there are still a lot of remaining questions about age-old problems with VR headsets, the main one being the eye-strain and motion-sickness that tends to occur after using the headsets for several minutes. We will probably see a bunch of VR-enabled games hitting Facebook, but honestly, creating good experiences for VR is COMPLETELY different from just making a 3D game or mobile app. We will probably see some conversions or whatever just to build up a portfolio, which will either be great and really amazing, or it will fizzle out very quickly as gimmicky and novelty as everyone tries to get on the bandwagon.
Virtual Reality isn't going anywhere any time soon until sources of capital (angel investors, seed funds, venture capitalists, etc.) decide to embrace the vision and potential of the technology (and its inherent risks as "new" technology) and start pumping capital into new startups. These startups must be driven by the pioneers and visionaries that already understand this tech and how to apply it...young guys with an idea for a facebook VR game just aren't going to cut it. Much more is at stake, and the potential for really changing the world is huge.
Now, I'm not knocking the young guys, I've been there myself. But with VR in particular, there is already a wealth of knowledge, expertise, and vision (pardon the pun) that can be tapped into, and I'm just not seeing it happen. I really don't want to see Farmville VR, Flappy Bird VR, or Snapchat VR.
I would guess though that Facebook's move here might just open the floodgates for VR companies as everyone starts thinking that hell, if Facebook thinks this is the future, we better get on the bandwagon or we are going to miss out. This might be a good thing, as capital will flow, but on the other hand, in the past when this sort of thing has happened, it has created a bubble and tons of really stupid ideas and teams get crazy funding, which just goes up in smoke as they are busy burning the cash doing "cool" things instead of building something really awesome.
Getting back to Facebook though, I'm still not clear on why Facebook decided to acquire Oculus...I sincerely hope we don't see a Facebook VR application any time soon. VR is about immersion and experience, not 2D windows full of status updates, "likes", or selfies. There is nothing about VR (now at least) that will contribute to Facebook's mission of making the world more open or connected. Dean Putney has an interesting post on boingboing that is worth reading. I think that it would have been better for Oculus (and the world) if Google or Apple had acquired them instead. It would have made much more sense, and would align with their efforts in other areas, like augmented reality, wearables, and so forth.
All in all, I think that Facebook's acquisition will ultimately prove out to be a good thing, but in the short term I think there is a big risk of novelty gimmicks running on the buzz of VR for a money grab, and very little actual innovation. Time will tell I guess.
I do believe that there is insane potential for virtual reality, augmented reality, virtual worlds, wearable displays, wearable devices, and the internet of things, particularly in areas where they intersect or are complimentary. Anyone interested in changing the world and building the future is welcome to contact me.
I have to hand it to Zuckerberg though, this is a really interesting development in the industry and I'm looking forward to seeing how it plays out and what Facebook is ultimately going to do with Oculus.
Just remember, there is no spoon.
Update: And now, there is no Minecraft VR for Oculus Rift.