Mark Zuckerberg: Why Mark Zuckerberg Regrets Spending $2 Billion on Oculus

Mark Zuckerberg regrets spending $2 Billion on Oculus

Everyone makes mistakes, and Facebook owner, Mark Zuckerberg is not afraid to admit some mistakes of his own, like his late realization that virtual reality is worth the investment.
In an interview Zuckerberg had with Sam Altman, the president of Y Combinator, he spoke about Facebook's $2 billion purchase of Oculus in 201.
He also stated that having to spend such an amount of money on the company to enter into space rather than having the forethought to build a team in-house timely was an oversight. However, he states that these types of big moves aren’t only inevitable, but necessary.
"We purchased the Oculus team with a lot of money," he said. "I view it as, you know, if we had done a much better job of developing some of the skill to do a few of that stuff within, then maybe we would not have had to buy it." But, Zuckerberg says that when he had the insight that virtual reality expertise was worth investing in, purchasing the leading company, rather than building something internal, was the only option.
"The Oculus team is unarguably the most talented team, so it made sense to make this big move," Zuckerberg added. It's imperative to note that Zuckerberg does not view Facebook's acquisition of Oculus as a slip-up, but instead of a costly solution to the firm's desire enter into VR.
"As CEO, it is your job to avoid a position where you have to be doing these irrational things," Zuckerberg said. "it's inevitable, you cannot be ahead of everything. Consequently, it's better to make the big moves and also be willing to do it than have pride and not do it and never acknowledge that you might have done something a lot better in the past."