March 26 - Richard Beales and Robert Cyran discuss Facebook’s $2 bln purchase of Oculus VR and what it reveals about Mark Zuckerberg's company.
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FaceBook told the world on Wednesday that has just been two billion dollars buying this company called populist -- which makes virtual reality headsets. The company. Didn't wasn't editing to two years ago less than two years ago kick start a campaign it's a real. Incidents -- and they don't even have a consumer product yet. No they don't know what it is they come this thing they turn to users that hey you wanna pony up 300 bucks we'll give you take a -- to make this. Right and and you can you can develop games for me. What a great idea that it has been getting rave reviews that everybody is everywhere all this stuff you know hey William Gibson the science fiction writers that is like the best thing that's come out and the past twenty years they weren't going crazy or. And now everyone thing I don't know enough FaceBook rifles and it is instinct thing most secure verdict face of FaceBook the Sierra. Seems to -- you know as with several of these big deals recently since it done of the way himself made the decisions himself and he. He's saying this is huge for gaming this may be the next computing potential risk and they computing platform but of course. It may be that you know 2.3 billion dollars to what you're doing actually give me whenever -- it yeah. Arm is a lot for the company's product even has you can shift in -- -- anyway it was involved in this instance bankers were involved in right in his other deals with -- -- for instance he just went ahead and did the deal on the reference he seemed to -- minimal due diligence to close calls right now FaceBook so under 65 billion dollars in market caps and -- its pocket change and can. -- for so that is still so it's kind of he has that currency analysts claim money which is which is great but it there's a message in a way for settled as witches in the week this is -- the votes maybe he has complete voting control he's gonna do what he likes two billion. Maybe. Field two billion isn't gonna meditate about what set was much bigger in nineteen billion. And he could do anything but yet he is this is the third acquisition he's done to it seems pretty clear -- going to be other acquisitions to -- the problem for investors is it's not clear why he's buying these companies mean what's that you could you could argue that. OK you know there are a lot of people nation don't have community access the very correct in their cellphones or perhaps you -- messaging service. Virtual reality headsets you know -- would not quite clear gaming and not quite sure what he's but he's getting into that because we can over missing -- -- him it. It 11 interesting thing that you alluded to is that. You've had this guy behind -- -- -- huge in limbo huge gaming platform hugely popular saying. He doesn't wanna deal with doesn't wanna write stuff -- kill us now for the for the platform because it -- below most of what these evil empire has faced it. Well though focal point of starting this thing kick start the whole Lotta people pictured my -- thought. Okay we're going to be independent company that's not going to be tied in all these things and it's great technology and it's going to be kind of grassroots thing and the thing is always people can charitably not getting anything out of it. However venture capital backed with a -- like -- a recent they'd invested money late last year and assistance and but I mean that's great assistant coincidence perhaps. Okay thanks so we get a waiver of that and we will have more breaking news for you to.