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The Story of Oculus Rift
An anonymous reader writes: A lengthy new article details the history of the Oculus Rift, from the VR headset's stereotypical beginnings in a hacker's parents' garage to its $2 billion acquisition by Facebook. "Luckey got into VR by way of computer games, which he was obsessed with for a time. After building what he recalls as a "beautiful six-monitor setup," for extreme visual saturation, he wondered, Why not just put a small screen directly on your face?" At just 19 years old, Luckey built a prototype good enough to impress John Carmack, which brought him all sorts of further attention. Investors came running, and eventually Mark Zuckerberg took an interest. "When Zuckerberg arrived, Luckey introduced himself and then quickly walked away. 'I'm a big fan,' he said, 'but I actually have to get back to work.' ... Zuckerberg seemed taken aback by Luckey's brusqueness but also charmed. 'They definitely have the hacker culture that we have,' he says." As the device approaches release, they're all wondering how much VR will change the world.
Oculus became completely irrelevant to me as soon as FB bought it. I'll wait to see what Valve comes up with.
I bet you feel your skateboard is basically the same as a Ferrari.
Choke with cash.
That is the norm these days. Oculus was NOT worth 2 billion dollars. But when you are spending other people's money, no one gives a shit.
A prototype and all was worth maybe a couple of million in today's money.
Tech companies are just irresponsible with their stakeholder's money. It's just disgusting what I have been seeing in the last 20 years.
Mind you, Valve's stuff is supposed to be out by the time the Rift comes out, so it'll be possible to directly compare them before I'll be in a position to buy. I'm not ruling them out. But overall I like the Rift's odds, based on what I've been reading.
PHEM - party like it's 1997-2003!
It seems like every startup from Apple to HP to Oculus is said to have started in the garage. Why do we never read about a startup starting up in the kitchen or the living room? Especially in California where it would seem that the lack of AC in the garage would be a major deterrent.
google cardboard pretty much makes this tech obsolete. my cell phone plus $20 headset and I have the same thing.
Carmak has stated that the big problem in VR headsets is latency: when the image movement is delayed slightly from when your head moves, it gives you headaches and nausea.
Carmak is a pretty smart guy, and has been working on this problem for awhile, and thinks he's solved the problem and that it will make a sellable product. He's got a track record for making sellable products, and so does Zuckerberg.
This is, of course, the reverse of an ad-hominum attack.
I'm not saying that earbuds and a flap from a shipping box isn't an equivalent setup, but I have to wonder...
Um, you shouldn't be one, either.
Let's do the math: drop tens of millions of dollars of your investor's money to be the beat out the other institutional investors to a company with a cool prototype built from Kickstarter funds. Realize a few months into it that the tech, while kick ass, isn't quite ready for prime time and won't have an available market of 10M users for at least a few years. Do some more math and realize they'll run out of money before then and have to take on additional VC money, possibly in a down round that will affect your position. Call one of your successful investments with money to burn, ask them to buy you out of your investment and give everyone a good return. Repeat with the next cool tech. Claim you have the unique ability to spot unicorns. Raise more money for your fund.
_That's_ how you think like a modern VC.
Of course, this is just a variation on the IPO scams of the first boom. In this case, the few successful companies (Facebook, Google, etc) replace the role of the public in providing quick returns on questionable investments. The public foots the bill indirectly: some IPO money and shares are used for the buyouts and ad revenue provides the rest of it.
-Chris