This is extremely disappointing. This technology had the potential to be much bigger than Facebook. The Occulus was poised to create an entirely new industry. They were pioneering a technology never before seen, with a legend like John Carmack pushing the state of the art. I cannot think of a more colossal mistake to make as a founder. Palmer Luckey has shown he has absolutely no faith in his ability nor that of his team. Occulus had nothing but success in their future. They had investors beating down their doors with money, developers announcing support for the platform before even getting a dev-kit, and consumers itching to grab hold of their product.

Facebook is the antithesis to Occulus. They have never created any technology, they add zero value to the the real world, and have no future potential in the long run. Occulus selling to Facebook would have been like Tesla selling to Proctor and Gamble after they released the Roadster. A company with a technology so radical it can change the industry, succumbing to weakness and cashing out to an old money company that has no expertise in the field for some chump change.

I am filled with sadness and disappointment. I believe Palmer Luckey will regret this decision.