FACEBOOK IS PLANNING TO BET BIG ON VR IN THE NEXT DECADE
Oculus is facing a $2 billion lawsuit from ZeniMax over the creation of the technology that went into their VR headset. ZeniMax is a game publisher, and while you may not have heard of them, you may have heard of some of their games, like Fallout or Elder Scrolls. Some parts of this technology may have come from a former employee of the game publisher, and ZeniMax was never compensated for it. Zuckerberg went to the trial yesterday to testify for Oculus, which Facebook had acquired back in March 2014 for $2 billion plus another $1 billion more for milestones and employee retention. Zuckerberg, of course, denied the accusations and issued this sick burn after being asked by a ZeniMax lawyer about his reaction to the suit:
“It is pretty common when you announce a big deal or do something that all kinds of people just kind of come out of the woodwork and claim that they just own some portion of the deal. Like most people in the court, I’ve never even heard of ZeniMax before.”
Zuckerberg’s vision for VR
Zuckerberg gave us some strong hints about his vision for VR during the trial, and it seems to me that his plan for the technology involves three key components:
1. Improve quality of the VR experience
While he doesn’t think that “good virtual reality is fully there yet,” he does seem hopeful for the future, and more importantly, seems like he has a plan. He projected it would take five to 10 more years of development in order to “get to where we all want to go.”
2. Commit to long-term efforts
But, why will it take so long? He said, “These things end up being more complex than you think up front.” So it seems that the company knows it will have to make a larger long-term investment to reach its technical and adoption goals than it had initially planned.
3. Make a large monetary investment
Zuckerberg said during the trial that Facebook will probably have to invest over $3 billion in the next 10 years in order to give hundreds of millions of people a good virtual reality experience, which is the primary goal.