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| Visionary or looney? Mark Zuckerber |
| Visionary or looney? Mark Zuckerberg on spending spree
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| UNITED STATES OF AMERICA
, 27-March-2014
6:9:44 AM |
| Facebook's latest multibillion dollar acquisition of virtual reality headset maker Oculus is prompting some people to wonder if CEO Mark Zuckerberg is already living in an alternate reality.
Longtime technology analyst Roger Kay wonders whether Zuckerberg "is nuts" for agreeing to pay $2 billion for Oculus less than five weeks after inking a deal to buy WhatsApp for $19 billion.
Oculus, which got its start on the crowdfunding site Kickstarter, doesn't have a consumer product on the market, just the promise of bulky virtual reality goggles that have generated huge buzz in the video gaming community.
Zuckerberg, for his part, sees long-term implications in the technology, for communication, entertainment and beyond. He was right about mobile, and he's created the world's biggest online social network.
So, is he looney, or visionary?
"Mobile is the platform of today and now we're starting to also get ready for the platforms of tomorrow. To me, by far the most exciting future platform is around vision or modifying what you see to create augmented and immersive experiences," Zuckerberg said on a conference call Tuesday discussing the deal. "Today's acquisition is a long-term bet on the future of computing. I believe Oculus can be one of the platforms of this future."
Facebook's investors seem to think Oculus's promise is too far off. The Menlo Park, California-based social networking company's stock fell 7 percent on Wednesday to close at $60.38.
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