Oculus VR, the Kickstarter, crowd funded maker of the Oculus Rift virtual reality gaming device, has agreed to be acquired by Facebook for around two billion dollars. The deal with include $400 in cash and another $1.6 billion in Facebook stock.
To say this announcement caught fans of the Oculus Rift by surprise is an understatement. The Oculus Rift was supposed to be the Next Big Thing in gaming. It will now be the intellectual property of Facebook, a social networking site that generates all its revenue from cheesy advertising. At least advertising in my Facebook feed is pretty cheesy.
That’s not to say Facebook will always be a social networking site. Back in the day, IBM started out making typewriters. Companies evolve all the time, especially the good ones. Not that I’m implying that Facebook is a good company. It’s not. Facebook was created by stealing the idea for a better version of MySpace and it cheats on its taxes. Also, Mark Zuckerberg, the guy who stole Facebook, wants to make it easier to bring skilled workers into the country by issuing more H-1B visas. This is the type of visa companies like Facebook use to employ temporary foreign workers willing to work for a far less than their American counterparts. H-1B visas help drive skilled wages down.
I will admit, there’s something synergetically poetic about a company with the name face in its title, acquiring technology that you strap to your face.