Even though VR doesn’t allow us to simulate reality, it allows us to create situations that could never happen in real life. With Virtual Reality you are able to visit places you have never been before, in times that might be far in the future or past. So I’m a great believer in the future of VR. I really believe that it’s one of the most important development in computer technology happening in our lifetime. But today the industry is going through tough times.

Problem #1: a lot of poorly executed content. I agree, bad VR content like bad YouTube videos is inevitable. But since 2012 there has been close to 3 billion dollars invested into VR, most of that money is going into hardware and, in general, into the platform plays. They are building a high-rise in the middle of the desert. Not the best idea at all. But there’s another content-related problem too.

Problem #2: the distribution of content is a mess. Distributing content is the last step in VR creation. Moreover it’s one of the most important steps. But what happens in practice:

Problem #3: the lack of VR developers. The truth is, finding qualified VR developers still proves to be difficult; meanwhile, great VR developers are scarce, just like good AI experts. Furthermore, it’s hard to teach someone, and the return on the investment is dubious. Some studios are even cutting down on VR investments, so it’s hard to predict if getting into VR is a good or bad investment.

It becomes clear that the VR industry still needs a little longer to mature. Anyway time will tell.

28 August 2018