AR/VR is the new hotness. VCs invested $1.7 billion in the 12 months leading to March 2016, $1.2 billion of that in the first quarter of this year alone. There are four AR/VR unicorns already (Magic Leap, Oculus, Blippar, MindMaze). Big numbers, very exciting. But as DFJ Partner Bubba Murarka says, "not all VCs have taken the red pill yet."
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