- Luckey founded Oculus and sold it to Facebook for $2 billion in 2014.
- He wants to build a metaverse, but says Facebook’s current product, Horizon, is “not good.”
- Still, Luckey sees potential for future success for the company.
Speaking at the Wall Street Journal’s Tech Live conference on Monday, the Oculus founder said: horizon worldFacebook’s core metaverse product: “I don’t think it’s a good product”
lucky sold Oculus, a virtual reality startup, to Facebook in 2014 for $2 billion.it is part of investment More than $15 billion has been invested in what Zuckerberg now calls the Metaverse, an immersive digital world accessed via AR and VR devices.
The tech giant has little to show for this massive spending, aside from its new company name Meta, a handful of VR headsets, and early digital platform Horizon Worlds.
“Not good, not fun,” Lucky said of Horizon. “Most people on the team would agree that it’s not a good product.”
Lucky was fired from Facebook in 2016, which he said was due to political contributions to “unpopular” causes. He now runs his Anduril Industries, a startup focused on security and defense products. Despite his divisive retirement, Luckey is a longtime builder and fan of his AR and VR and hopes Facebook will succeed in building it.
“Mark Zuckerberg is the number one fan of virtual reality in the world,” Lackey said.
The amount of money Zuckerberg is putting into this project alone, he said, means Horizon Worlds could be improved and the metaverse could be a success. “Today was terrible, but the future could be amazing,” he said. “Zuckerberg would pay to do it. They are in a better position than anyone else to win in the long run.”
That would take time and involve mistakes, he added, and compared it to a “project car”, a luxury car whose owner spends a lot of money on it as a hobby.
“If you hack it, maybe no one else sees its value,” Lucky said. “Will they stumble? Yes. Will they waste money? Will they add something to the project car and hack it later? Yes.”
So far, Facebook’s move to building a metaverse has been costly. The company lost his $10 billion to Reality Labs last year. This division now covers all Metaverse projects, including Oculus, and has been renamed Meta Quest. Wall Street analysts expect him to lose more than $10 billion this year.
So far, Wall Street has not responded well to the project. Deceleration rate User and revenue growth. After Zuckerberg demoed an avatar with legs earlier this month, not really availablealong with other metaverse advances not ready for prime time, Facebook’s stock price fell to its lowest price since 2018.
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