90% of Chinese VR Startups Have Gone Bankrupt. Here’s Why That’s a Good Thing.
VRScout
JANUARY 1, 2017
In 2015, China saw 200-300 firms jump to produce their own VR HMDs. In the wake of Facebook’s acquisition of Oculus in 2014, investment spiked: 270 million yuan ($38.9 Expectedly, the many seized the opportunity for a feeding frenzy. The first bit to point out, of course, is that 90% of startups in any industry fail.
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