15 million, but whatfor?

The backers gave Pimax 4 million sturdy dollars to refine (or build from scratch, whichever applies most). Then the company got an extra whopping 15 million.

How is Pimax allowed to spend that? Does all need to go into research and developent, or would it be for promotional uses? Seeing as the 5-6000 backers all get a headset with peripherals or not, together that would burn through the initial 4 million quite fast. But an extra 15 million seems so much money compared to 4 mil. Is that money going into development right now too?

15 million is not a lot of money all told. you want to set a good half of that aside for marketing/promotion when the time for retail comes.

then you have to pay for production line, manufacture etc.

Most will be resources and productionline. Logistics really. O-film is seeing Pimax as an interesting Kickstarter/startup. They don’t bet all their money. Just enough to make the productionline and resources come together.

If the end product meets the consumers satisfaction in the first set of 5K users, they might be willing to supply more for the resources and the rest. At the moment Pimax is just an interesting startup for O-film.

The company used some the extra money to make the product better - the engineers have a background in optics, so are perfectionists when it comes to visuals, and they’ve tweaked the production lenses a few extra times to maximize the image quality. Each tweak cost between $50,000 and $100,000 to re-tool the production machinery (and took a few weeks).

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How does that work? I figure they set all the machines and record the settings which can be reproduced when they want, right? Because other clients might want to use the production lines in the mean time?

They might even pay their employees and have a building… :face_with_monocle:

My guess is that they use labs and students from this university. http://www.fudan.edu.cn/en/
Most startups are coming from universities, same in the west. Well, happens in the Netherlands also.

I would have lumped that in with r&d but sure. I wonder if the project was even feasible without those extra coins

I heard that they’re using a partner to do the mass production for them. But I could be mistaken.

And indeed, 15 mil in this situation really isn’t too much.

look at how much tesla is spending for a shitty product

pimax is going to be great, they will also have some good patents on the lens and software…

the other vr players are as usual - just thinking about how to cash in short term

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When you consider Facebook bought Oculus in 2014 for 2,000 million that should help put it in perspective what mass production, R&D and IP can cost when you want to be a global player. 15 Million is pocket change.

That price never sank with me. Where is that money going? They bought it, so that money is gone, right? Now they need to spend even more money to develop the product even further?

That money bought every patent that Oculus owned, a team of experts, the ownership of the company and all its assets, the right to direct Oculus how they see fit etc etc.

It was a huge sum and I imagine because Oculus were the current pioneers at the time they demanding a big sum.

Lucky was very lucky :smiley:

Actually it appears from news reports that FB paid 3 billion in the end. That extra billion was to keep some key employees and guarantee certain milestones of development were hit.

Still, crazy amounts but then there are not many main players in the VR space. FB and HTC have taken a massive gamble that we all hope pays off so companies like Pimax can pop up and actually compete in a market that doesn’t flop.

Well, yes, but what happened with the money? Is it all being used to fund futher developments into their next VR headset, etc? Because Pimax has like what 20 mil $ in funding in comparison to that 2-3 billion $ … ? Slight difference there.

Are you talking about what happened with the money that went to Oculus? If so that went into the accounts of the previous owners / investors etc. It was a sale purchase. Lucky got an estimated 700 million of it just himself.

If you are talking about Pimax then that is investment money, to make the 5K/8K/8K-X a thing through what ever it is Pimax seem fit although there are probably shareholders or board members that have a say in how it is spent.

Exactly. If they paid 3 billion. Did those dollars go into peoples bank accounts? The they have patents, rights, employees but from then on more money needs to be spent running the whole company. So the 3 billion was just aquisition, it’s gone into the pockets of those previous owners, right? And then? 20 million to run the Oculus company?

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Yeah I meant oculus :slight_smile:
Should’ve guessed it would go to shareholders… :confused: yay capitalism

I am just guessing here as that is all we can do, it was a private sale although some tidbits came out when FaceBook went to court on property rights. That was all in the news not long back. Lucky escaped that but FB had to pay out a large sum.

I have no idea how much Oculus Research costs to run but they are serious about VR that is for sure. I think Zuckerberg wants Facebook to be a Ready-Player-One style social VR space, it makes sense so they can finally monitze it beyond advertising.

I imagine something like Second Life (but better) where you buy a plot of VR space, build a house, buy decorations, avatars etc and all your FB friends houses appear on your magic VR street. You can then go and knock on their virtual door etc. People are quite vain so FB could make a killing on vaporware sales. It will be like Multiplayer SIMS but not SIMS, it will be the techy populace lol

I’m going full on conspiracy nutter here and say there’s a real big downside to VR and the capability of tracking/recording your smallest movements and eye gazes. It’s a marketing surveyers dream come true. You can’t control your subconscious and your eye movements reveal part of that, in micro seconds your pupils will dilate or move towards anything you find attractive or scary. If one could record that from all users and analyse it together with A.I. pattern recognition and a really big user base. All that knowledge will be very powerful, for advertisement but also governments. We are apes susceptible to all kinds of coercements, hypnosis and otherwise direction. VR has this downside and the worst thing you could do is give all your data to a company that does ads to survive.

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Unfortunately I think you’re quite right with this :frowning:
Me, I don’t have facebook, never have. I’m really anti social media as a whole. Well, social media that’s really intrusive anyway. I do use twitter, mainly as a news feed.
I would never buy a Rift because they are owned by FB. Maybe that’s paranoid but still, I can’t get around it.

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