Episode 82 – VR for Business and Personal
We discuss the Virtual Reality and VR for business in this episode of Business Growth Time.
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Time Stamped Show Notes:
02:46 – VR technology
What people are seeing through Google Cardboard and even Samsung VR to an extent, is that almost 360 degree photograph, so you feel like you’re set in the middle of it, but the overall experience is a little bit different.
03:17 – Janet did a Facebook Live of her playing her son’s VR game on Sony Playstation, (she’ll post it here)
05:33 – You put the goggles on and the immersion portion is where your brain does not know the difference between whether it’s actually happening or if it’s just some game that you’re playing.
e.g./i.e. : Richie’s Plank Experience VR
Richie’s plank is a scenario where you go up an elevator 50-60 stories high and you walk out the elevator when it opens and you look out and you’re looking at the skyscape of the city.
07:11 – Virtual Reality has been around for decades!
So, one of the things that I learned is virtual reality’s been around for decades. It started in the late 50’s and again it’s that same kind of Viewmaster technology that just changes the view in the way our brain is wired.
The next really interesting revolution was the 90’s “Nintendo” came out with this thing called Virtual Boy, it was monochromatic.
08:54 –Palmer Luckey – He is the founder of Oculus VR and designer of the Oculus Rift, a virtual reality head-mounted display
In 2012, Palmer Luckey decided he was going to make the new “Oculus Rift, so he started building it and he put together a Kickstarter campaign and the campaign surpassed its goal.
*Oculus initiated a Kickstarter campaign in 2012 to fund the Rift’s development, after being founded as an independent company two months prior. The project proved successful, raising US$2.5 million. In March 2014, Facebook purchased Oculus for $2 billion.
- They start building prototypes and they started looking at it and they were really getting some traction, but before they even come out with a finalized product that they could sell the consumer in March 2014, Mark Zuckerberg and his friends at Facebook, plunk down two billion dollars for a non revenue-generating company, when they bought Oculus for two billion dollars
What is Oculus VR?
Oculus is operating similar to how an Instagram or another app that would operate. It’s an independent operating organization, under the Facebook umbrella, so they let them kind of do their own thing.
- In March 2016, they finally shipped their first product, two years later. HTC a company out of Korea had bought their way into the technology when they bought another hardware manufacturer and they started shipping their product in April. All the while, the technology inside of computers, the software, the processing power, caught up
11:05 – How much does is cost?
Oculus Rift goggles costs $600 dollars but then you need paddles, computer, sensors, etc and a super duper computer for about $1,500.
…so that’s where people are going to get involved, they’re gonna get interested, ,they’re going to have the experience in the higher quality here, the higher the quality of gear, the less likely you are to get nauseous.
14:10 – What is the business side of this? Or where do you think it’s headed?
*The gaming side of the gateway drug! Where virtual reality is going to take hold and is going to blow up is in a couple of very specific areas.
e.g: Tourism – travel without actually leaving your seat is going to be amazing.
- People in the cruise industry. So, we’re talking about having VR on ships, but we’re also talking about how they can showcase other destinations for their cruise line…so travel and tourism is phenomenal!
Real Estate Industry – You can go in and you can see the entire house while you’re sitting in the realtor’s office and then you can decide out of these places which one you actually want to go and drive to. Think about how much time this saves.
Training -It basically tricks your brain into thinking that it’s absolutely real. So, it doesn’t matter whether it’s a basketball player practice and free throws, in going through the motion because there’s a difference between the training and development side in the gaming side.
*Gamification has been a really big word in both internet marketing and trying to keep people’s attention, which is also a big word in training and employee advocacy, (which is a word we just used a couple of times in the last show).
You can get people dialed in to a very specific thing and have them learn while they don’t feel like they’re learning. So, training in particular for repetitive tasks and dangerous tasks, things that you have to be able to execute properly like moving a crane, for instance, without damaging anything- you can learn how to do that in VR, because it helps create the muscle memory that you need to actually do things the right way.
Medical – They’re looking at things from a VR perspective . Medical is so much deeper than just the training side. You have the ability now to pretend you’re in a capsule and fly through at a cellular level and go look at cancer cells, be able to identify and really kind of map out the the gene pool inside of human. Simultaneously, they’re using VR to relax patients , to give the patient’s mind something to focus on as alternatives to medication in some circumstances.
21:27 – The other side of virtual reality (Virtual Reality and Augmented reality)
Augmented Reality – is where you’re wearing almost clear glasses and information is being popped right into the glasses, imagine going through a grocery store in in seeing RFID chips, inside of the boxes, your glass hits it and all of a sudden the nutrition information pops up on the cereal or whatever the information that you’re looking.
What’s gonna happen eventually is mixed reality, where your glasses will be light so you can deal with the augmented reality, right? The things that you’re going to see every day and not have to worry about and then they’ll be able to shift into darkness where you can do the virtual reality. It was debuted at CES this year.
Virtual Reality is scheduled to be at 30 billion dollar a year industry by 2020.
Augmented Reality is expected to be $150 billion dollar a year industry by 2020.
24:29 – Social VR – The idea that people are going to go and instead of hanging out on their Facebook profile and looking at photos and maybe the occasional video, now all of a sudden similar to what second life was, you’ll actually have your own avatar and you’ll be able to go and interact with people.
Think about conferences from a business perspective , you could strap on the goggles and have the person you are meeting do the VR also and meet for coffee at the top of Mt Kilimanjaro.
Advertising could be implemented at some point.
26:50 – Tips in Learning VR
- Go to a Microsoft store, Microsoft has different stores inside of the Microsoft store is the HTC VIVE and demos of the HTC VIVE. So, just go throw on the goggles and spend a few minutes, imagine the possibilities that are there.
Facebook page Private label VR- https://www.facebook.com/EZVRone/ Terry says to follow the page to see where he’s sharing information and stories and discoveries. EZVR1-Twitter https://twitter.com/EZVRone for updates.
Resources Mentioned:
Janet’s Facebook Live of her first experience of VR
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