We too believe virtual reality is going to be big - eventually.
But the hype around virtual reality seems to be getting ahead of the actual reality these days.
The price is $600, leading some to wonder if this is too high for the product to be successful.
It's even being compared to Google Glass, a former virtual reality darling so unsuccessful that Google is burying it.
However, most think the Oculus Rift product will be successful - including us.
We're also seeing virtual reality make headway elsewhere. For example, Google recently announced they've shipped over 5 million units of the VR device Google Cardboard. That's pretty impressive.
Apple is also apparently getting in the VR game and is rumored to have "hundreds of people" working on VR.
There are a wide variety of other applications and players also entering the VR space. One interesting example is VixenVR, which is creating a virtual strip club. Since Small Business Labs is G-rated, you'll have to visit VizenVR's site for details.
But my favorite example comes from Samsung's article Using Samsung Gear VR to Revolutionize the Restaurant Experience and illustrated in their picture below.
I know I can't wait to wear a VR headset at my favorite restaurant.
Expect to see VR successful in gaming and entertainment in the near term (over the next 2-3 years). Also expect it to be increasingly used in vertical industrial applications.
Don't expect it to be widely used in restaurants anytime soon.