Innovation
Big tech is in for a big correction
The binge in VR spending tells us much the same story as the mania for AI – that the tech giants are out of ideas.
01 October 2025
Remember way back in 2023, when virtual reality (VR) was finally going to be a thing? Fifth time's the charm, guys, for real this time. Now, with AI dominating both stock markets and global attention, VR has been shunted offstage. This tells us a lot about the state of Big Tech and the probable lifecycle of AI mania.
VR has been just around the corner since the 1980s. If you're old enough to remember the movie Lawnmower Man from 1992, you'll recall the breathless enthusiasm for the technology at the time. Since then, it has reemerged into the limelight at least four times.
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