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Welcome to Day 1463 of our Wisdom-Trek, and thank you for joining me.This is Guthrie Chamberlain, Your Guide to WisdomVirtual Reality - What We Can Expect \u2013 Ask GrampsWisdom - the final frontier to true knowledge.\xa0Welcome to Wisdom-Trek! Where our mission is to create a legacy of wisdom, to seek out discernment and insights, to boldly grow where few have chosen to grow before. Hello, my friend, I am Guthrie Chamberlain, your captain on our journey to increase Wisdom and Create a Living Legacy.\xa0Thank you for joining us today as we explore wisdom on our 2nd millennium of podcasts. Today is Day 1463 of our Trek, and our focus on Fridays is the future technological and societal advances, so we call it Futuristic Fridays.\xa0My personality is one that has always been very future-oriented.\xa0Since my childhood, I have yearned for the exploration and discovery of new technologies and advancements for the future.\xa0I grew up with the original Star Trek series, and even today, while I am on my 64th revolution around the sun, I still dream of traveling in space. Each week we will explore rapidly converging technologies and advancements, which will radically change our lives.\xa0At times, the topics may sound like something out of a science fiction novel, but each area that we explore is already well on its way of becoming a reality over the next couple of decades.
To keep with our theme of \u201cAsk Gramps,\u201d I will put our weekly topics in the form of a question to get us on track.\xa0So this week\u2019s question is, Hey Gramps, I hear a lot about Virtual Reality recently.\xa0Can you share your insight about where the Virtual Reality market is today, and what we can expect over this next decade?\xa0
Virtual Reality \u2013 What We Can ExpectLast week we focused on the second part of how exponential technologies are impacting food production. This week we are switching our focus to Virtual Reality and the road from deceptive to disruptive.\xa0I am using some of the information mentioned in Peter Diamandis\u2019s blogs and book \u201cThe Future is Faster Than You Think.\u201d
In 2016, venture investments in Virtual Reality exceeded\xa0 $800 million, while Augmented Reality, which is also referred to as Mixed Reality, received a total of $450 million. Just a year later, investments in AR/MR and VR startups\xa0doubled\xa0to $3.6 billion.
Today, major players are bringing VR headsets to market that have the power to revolutionize the industry, as well as countless others.\xa0Already, VR headset sales volumes are expected to reach 98.4 million by 2023, according to Futuresource Consulting. Beyond headsets themselves, Facebook\u2019s $399 Oculus Quest brought in $5 million in content sales within the first two weeks post-release in the spring of 2019.
With companies like Niantic ($4B valuation), Improbable ($2B valuation), and Unity ($6B valuation) all exceeding a valuation exceeding $1 billion in recent years, the VR space is massively heating up.
Today we will dive into a brief history of VR, recent investment surges, and the future of this revolutionary technology.\xa0
\xb7\xa0\xa0\xa0\xa0\xa0\xa0Brief History of VRFor all of history, our lives have been limited by the laws of physics and mitigated by the five senses, but Virtual Reality is rewriting those rules.\xa0It\u2019s letting us digitize experiences and teleport our senses into a computer-generated world where the limits of imagination become the only brake on reality.\xa0Considering all of recorded history, it has taken a while to get here.
Much like Artificial Intelligence, the concept of VR has been around since the 60s. The 1980s saw the first releases of VR when the earliest \u201cconsumer-facing\u201d systems began to show up. In 1989, if you had a spare $250,000, you could purchase the EyePhone before the iPhone, a VR system built by Jaron Lanier\u2019s company VPL. It was actually Jaron Lanier who coined the term \u2018virtual reality.\u2019
Unfortunately, the computer that...