Tuesday, January 17, 2017

Zuckerberg Testifies That Facebook's Virtual-Reality Tech Was Not Stolen

Let's just be honest here for a second, shall we? What did everyone expect Zuckerberg to say on the stand? The biggest news here is that Facebook actually paid an additional $1 billion for employee retention and milestones ON TOP of the $2 billion it shelled out for Oculus. Wow.

Facebook Inc Chief Executive Officer Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that the virtual-reality technology of Facebook's Oculus unit was stolen. ZeniMax sued Oculus in 2014 as Facebook was in the process of buying the startup for $2 billion. The publisher said that Oculus unlawfully gained access to ZeniMax's intellectual property while developing the virtual-reality system that includes the Rift headset.