When Will Oculus Rift Be Ready for Consumers?

The video discusses the Crescent Bay prototype, a significant step in VR technology by Oculus, showcasing its consumer-level quality and VR audio capabilities. It highlights the journey from earlier models like DK1 and DK2 to Crescent Bay, emphasizing improvements in resolution, optics, and presence. The speaker compares Oculus' advancements with competitors like Sony and Google, noting Oculus' superior presence and immersion. The acquisition by Facebook has accelerated Oculus' growth, allowing for extensive R&D and infrastructure development, positioning Oculus as a leader in the VR industry.

What does the term 'presence' refer to in the context of virtual reality?

How has the growth of the company been influenced by its acquisition by Facebook?