Since my original thread the Valve HMD leaked. I no longer think Facebook is necessarily the “biggest” investor in VR, at least not yet. Valve could be VR’s biggest investor. Before that leak I wasn’t convinced they were committed to VR at the same level. Now I believe it.
So a huge investment rush happened in VR after Facebook’s purchase of Oculus for $2 billion in 2014. But the biggest investor in VR (Facebook) wasn’t able to build a sustainable market for developers in the first generation of its own consumer hardware.