Facebook Wants to Be the Internet: Wolf

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March 27 (Bloomberg) -- Active Founder and Managing Director Michael Wolf discusses Facebook’s deal to buy Oculus VR on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)

Greet the president of the united states.

This is "bloomberg surveillance ." i am tom keene.

We are thrilled to bring on michael wolf this morning, this after a huge week for los angeles technology.

The tech world genuinely stunned by facebook costs briefcase of stock in a virtual reality gamer.

Your reaction when you heard the news?

Facebook wants to be the internet.

It looks and virtual reality is the next platform after the computer and after mobile.

I think they are going to put a tremendous amount of effort and money in trying to be that next platform.

I look at this as an r&d purchase.

Is that the right way to look at it?

$1.4 billion r&d budget -- to me it is just a bolt-on r&d project.

They still don't have an announcement of when they are going to be shipping to consumers.

This is about taking a bet on the future.

We look around -- it is the wearable market already.

You and i got the memo on the gray suit.

Music is boring as can be today.

It is all about being on the cutting edge -- we look as boring as can be today.

It is all about being on the cutting edge.

The company with the best technologists wins.

The companies that are cool, that is why they are doing things like trying to get the best projects.

Developers wanted to the most interesting thing.

Virtual reality is the next most interesting thing.

It will be great for facebook in terms of keeping their engineers -- we mentioned at the new york rangers earlier.

Am i going to watch new york rangers hockey through some virtual-reality thing in 10 years?

Absolutely.

It will be sports, you having your own avatar.

Expect that virtual reality is going to be here whether or not microsoft has their device, whether or not google has their device, whether facebook is made the right purchase.

I need to get an update very quickly -- marissa mayer, how is she doing?

I think she is doing great.

The most important thing is she got the traffic to go up.

Traffic following traffic, there will be advertising revenue.

The thing she has done, nobody else could have done, which is bringing developers and talent and make the traffic grow.

This text has been automatically generated. It may not be 100% accurate.

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