Oculus Go Aims to Be Facebook's VR Gateway for the Masses
*By Alisha Haridasani*
With its sights trained on a broader market for its virtual reality headsets, Facebook’s Oculus began selling its mid-range device on Tuesday.
The Oculus Go, which is available for sale on the Oculus website, Amazon, and in Best Buy stores, starts at $199, about half the price of the company’s high-end Rift product. The company also produces the cheaper Oculus Gear VR, which only works with select Samsung phones. The Go, unlike the Rift or the Gear VR, doesn’t need to be tethered to another device.
“We think that Oculus Go is a fantastic entry point for people who may not have tried getting into VR yet,” said Madhu Muthukumar, the product manager for Oculus Go, in an interview with Cheddar’s Alex Heath.
“We think of VR as a spectrum,” said Muthukumar, with the Rift at one end and the Gear VR at the other. The Go fits “nicely in the middle," he said.
The Go includes its own for-sale VR video library and access to Oculus TV, a new platform that allows users to access TV apps such as ESPN, Netflix, and Hulu. The new Go headset is also compatible with personal photos and videos from a user's phone, social media accounts, and Dropbox. The Go can also be fitted with prescription lenses.
“This is how people imagine VR should work,” said Muthukumar.
Oculus has grown from the Kickstarter-funded brainchild of [Palmer Luckey](https://www.wired.com/2014/05/oculus-rift-4/), who created the first prototype in 2011, when he was 18 years old, to a major player in virtual reality. Facebook acquired the company in 2014 for $2 billion, prompting other tech companies such as Microsoft and Google to try to develop their own competitive VR products. Apple is [reportedly](https://www.cnet.com/news/apple-is-working-on-an-ar-augmented-reality-vr-virtual-reality-headset-powered-by-a-wireless-wigig-hub/)working on its own headset that can run both VR and AR technology.
Despite Silicon Valley's push into VR, the technology hasn't been widely adopted by consumers. In 2016, only 200,000 Rift headsets were sold globally, according to a study by [SuperData](https://www.economist.com/news/business/21724863-vr-has-been-more-about-hype-substance-will-change-reality-check-virtual). The VR software and hardware industry made $1.8 billion in 2016, half the amount estimated in the study.
For the full interview, [click here](https://cheddar.com/videos/facebook-looks-to-take-vr-mainstream-with-oculus-go).
Soildus Labs, a market compliance and surveillance technology provider for crypto firms, has spearheaded the launch of the Crypto Market Integrity Coalition, a pledge committing to a safe and sensibly-regulated crypto industry. Kathy Kraninger, VP of Regulatory Affairs at Solidus Labs, discusses on Cheddar News' Closing Bell the biggest problems in the digital asset space that this new initiative plans to solve.
The global chip shortage continues to weigh on the automotive industry. For example, Ford says it is suspending or cutting production at eight of its factories in North America through next week due to the shortage. Balu Balakrishnan, President and CEO of Power Integrations, joins Cheddar News' Closing Bell, where he elaborates on why the chip shortage has dragged into 2022.
Peloton has weathered a seemingly never-ending storm the past few months: PR blunders, sinking customer demand, and in recent weeks, reported cost-cutting and potential layoffs. Now, several companies are said to be in the mix as potential buyers: Amazon, Netflix, Disney, and Apple. How likely is it that one of these companies pursues a deal — and how likely is it that it will be Apple who buys Peloton? Dan Ives, Managing Director of Equity Research at Wedbush Securities, joins Closing Bell to discuss his thoughts about Apple pursuing a Peloton takeover,
Astra aborted the launch for NASA ELaNa 41 Mission out of Cape Canaveral on Monday due to what was described as a minor issue, but the company's stock fell nearly 14 percent following the news. Jim Cantrell, CEO and co-founder of Phantom Space, which builds and launches spacecraft of its own, joined Cheddar to discuss the scrubbed mission. “The last thing you want is for this to go wrong, you're better to err on the side of safety expectations,” Cantrell explained, noting that the mission delay was a normal event.
The Biden Administration is set to revise federal rules to address potential security risks from foreign-owned apps, mainly Tiktok. This comes after the White House opted not to pursue a forced shutdown of the Chinese-owned video sharing platform. Under these new rules, federal oversight would be expanded to explicitly include apps that could be used by foreign adversaries to steal or otherwise obtain data. Senior Fellow at the Foundation for Defense of Democracies, Craig Singleton, joined Cheddar to discuss more.
The metaverse platform Decentraland hosted its first wedding over the weekend. The union was overseen by Rose Law Group, at the firm's virtual property, hosting witnesses including 2,000 guests. The ceremony endured some technical glitches before being completed.
The gaming industry has been under the spotlight so far this year following some big mergers and acquisitions. This week featured earnings of three major gaming companies, but also Meta and for the latter, things are not doing too hot. Joining Cheddar News to break it all down was Kenny Rosenblatt, President and Co-Founder of Arkadium.