Palmer Luckey, the founder of Oculus, announced he is working on a new virtual reality (VR) headset, reigniting excitement in the industry. Despite parting ways with Meta in 2017, Luckey expressed contrasting views on the company’s approach to VR, believing that low-cost headsets hindered its advancement. Luckey’s new VR headset faces competition from various players such as Apple, Meta, Sony, and HTC, but his understanding of the market and his experience in the field make him a formidable contender.