2013 has brought much excitement to the VR world, especially the perception of great breakthroughs in Head Mounted Display products. Can we take a deep breath, then hold up a distant mirror to the cautionary history of VR from 1993-1998. Back then there also was a fever pitch of excitement as companies pitched great breakthroughs, attracted outsize investments from private and public markets, and yet, the best of them crashed and burned, taking their investors, customers, and vendors down with them.
I invite you to review this chronological collection of VR news reports beginning with the fire sale of VPL’s much vaunted patent portfolio. The reports follow the rise and fall of three VR industry giants: Virtuality, IO Systems, and Superscape. I present these as examples, but they’re not alone. Very few VR firms escaped the 90’s. Sadly the VR bubble burst long before the late 90’s tech bubble burst. It wasn’t the economy – stupid!
Does history repeat itself?