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Oculus, Luckey’s brainchild, gained significant traction, quickly attracting attention from numerous tech giants, including Facebook. However, many companies viewed VR as a fleeting trend, while Facebook recognized it as the future of engagement. Unlike Microsoft and Google, which were focused on maintaining the status quo, Facebook saw this acquisition as a potential game-changer, creating a new landscape in which VR might thrive.
Eventually, Facebook acquired Oculus, positioning itself to lead this emerging market. Luckey noted that if VR took off, it would elevate Facebook’s standing in the tech hierarchy, prompting them to capitalize on the untapped potential within the realm of virtual and augmented realities.