Tuesday’s announcement that Facebook is buying the virtual-reality start-up Oculus for $2 billion no doubt left many people scratching their heads. It was only a month ago the social network giant shocked everyone by paying as much as $19 billion for WhatsApp, an Internet-based text messaging start-up which had amassed an eye-popping 400 million users in only a few years.
Have Silicon Valley companies and investors been transported to some alternate universe in which start-ups become irresistible targets before they’ve made any profits or, in the case of Oculus, before they’ve even made any products?
Read more about what we can learn about innovation from this business deal here.
