Oculus Buy Is Long, Deep Bet for Facebook: Cohn

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March 26 (Bloomberg) -- Ad Hoc Labs CEO and Founder Greg Cohn discusses his outlook for Facebook and the company’s deal to buy Oculus VR on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)

Mark zuckerberg of facebook has said that 40% of people's time is spent online and 40% of that is spent on social communication.

Is this purchase a way to kill two birds with one stone?

Absolutely and more of that is mobile.

Ocllus -- oculus gives them a mobile platform and he wants facebook everywhere.

Communication is a big important area of investment for them.

Many people say that mark zuckerberg and facebook was late to the shift to mobile and now they might be too early and making up for lost time and perhaps betting on the wrong direction with virtual reality.

Is not commercially available yet.

I think it is a long bet.

You have to look at this over a long-term horizon but there will be more extremes as that will be virtual.

I got face time on my iphone.

Why do i necessarily need an oculus thing over my head if i want to interact with facebook?

I think wearables will be a thing just like google glass.

There is discussion about watches and things like that.

People want a device that is more comfortable.

The bottom line is that if adam is sitting at home and face timing me, he will be forced to see a mercedes-benz commercial.

Before he gets to talk to me, right?

I don't think that's a great experience for users but on the google side, it will happen and facebook has a history of trying to get commercial product embedded into their experience.

75,000 orders thus far and the thing does not exist yet.

What does that tell you about the future?

Those are developer orders.

They are for people who want to build the software or experience the alpha.

The scuba mask experience is a little clunky and it is not what the final form will be.

It should be like putting on your sunglasses.

They will try to get that to a

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