Facebook’s Oculus Rift Won’t be the iPhone of Virtual Reality
Mark Zuckerberg "We are betting that Virtual Reality is going to be an important technology. I am pretty confident about this...I honestly don't know...how long it will take to build this ecosystem...My guess is that it will be at least 10 [years]...We're mostly interested in the software. But there is a time early on in the development of any new platform where you really need to do the hardware and the software at the same time. Only later does specialization become valuable. So you get a company that is really good at the hardware, and one that is really good at software. Everything is changing quickly enough that you kind of want the iteration to be linked. Which is why we also take care of the hardware; although our long-term role will be in the field of software."
Not material in 2016
Facebook's management has been clear: Oculus Rift won't be material to the company's financials anytime soon. But for long-term shareholders, Facebook's interest in virtual reality is certainly worth watching.
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