The History of the Future: Oculus, Facebook, and the Revolution That Swept Virtual Reality by Harris Blake J
Author:Harris, Blake J. [Harris, Blake J.]
Language: eng
Format: epub
Tags: Business, History, Science, Biography
ISBN: 9780062455987
Goodreads: 34017056
Publisher: Dey Street Books
Published: 2019-02-19T08:00:00+00:00
Integrating the playerâs body into the virtual world would be key to DK2. âDK1 immersed the player in the virtual world visually, but did nothing to integrate their physical body,â they wrote in the roadmap. âWith DK2, we want our players to feel like theyâre actually Batman when theyâre playing in Oculus VR.â
OVER THE PAST TWELVE YEARS, BRENDAN IRIBE HAD PITCHED DOZENS OF potential investors. Some meetings had gone well, others not so much. But regardless of outcome, they all had one thing in common: nobody had ever fallen asleep while he was talking. That changed in early March, however, when Iribe went to Boston and pitched North Bridge Venture Partners.
The meeting had been set up by Ric Fulop, a general partner at North Bridge, who saw potential in VR and reached out to Iribe to hear the pitch. By this point, Oculus had yet to find any investors for their Series Aâwith one exception: Founders Fund. But that had only raised $1 million of the $15 million Oculus was looking for, so in the weeks leading up to GDC, Iribe hit the road hoping to raise the necessary funds. Coming to Boston and boring an investor to sleep was definitely not how Iribe had hoped to start off his trip.
This is crazy, Iribe thought. If VR doesnât keep you awake, then what will! But discouraging as it was, Iribe did his best to power through it.
Fortunately, Narcoleptic Investorâs partners were much more impressed than he. And before Iribe left, Ric Fulop presented him with a term sheet. Or, uh, maybe not.
âRic, what is this?â Iribe asked, looking over the document. âThis isnât even a term sheet. This is a convertible note. You donât even have a valuation in this!â
âOh,â Fulop replied. âI got you the wrong meeting.â
All in all, things couldnât have gone worse. âIt was a crash-and-burn partner pitch,â Iribe told Founders Fundâs Brian Singerman, whom he called right after leaving North Bridge. âThis just happened. Itâs pretty discouraging.â
The whole ordeal, however, turned out not to be a total loss. Because Fulopâwho felt bad and still sincerely believed in Oculusâconnected Iribe with another lead: Santo Politi, who was a partner at Spark Capital.
âReach out to Santo,â Fulop told Iribe. âHeâs a great person. And also in Boston.â
Politi was interested, but currently traveling. Thatâs fine, Iribe said. Iâll come to you. And three days after his crash and burn at North Bridge, Iribe found himself in San Francisco, giving Santo Politi a demo in the conference room of an airport hotel.
Back in early the â90sâduring the heyday of janky VRâPoliti had been an executive at Panasonic, so he had a vague sense of what he was about to see. He knew that this would be significantly better, of course, but he had no idea how much better it would turn out to be.
âIâm floored,â Politi said. âIâm absolutely amazed.â
Iribe smiled. He had been hoping to hear something like that.
âLetâs have dinner,â Politi suggested. âI think thereâs a shitty restaurant downstairs.
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