Facebook CEO Mark Zuckerberg gambled on the future of virtual reality when Facebook purchased Oculus VR, and admits it will take time for VR to make a major impact. Facebook spent $2 billion to acquire Oculus VR last year, as the company continues to move forward with hardware development.
"It's extremely early stage and the early stuff is very rough still, but I think that's going to be a really important trend," Zuckerberg recently said regarding virtual reality and augmented reality, speaking during a question and answer session in Colombia.
Zuckerberg also believes VR could help eventually replace smartphones and PCs one day, though development will have to evolve. "We're really excited about that as well. We're building that with Oculus which I think is by far the leader in virtual reality and it's going to be very exciting to see how that develops."