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Oculus cofounders exit is latest in string of Facebook departures

first_img Tags Post a comment Mitchell was the head of virtual reality products at Facebook, which purchased Oculus for $3 billion. The Oculus team at Facebook has grappled with a number of woes, including a lawsuit and executive turnover, as it tries to make virtual reality more mainstream. Facebook bought Oculus because it envisions a future in which Facebookers will be able to share moments with their friends and family as if they’re all together in person. Co-founders at other companies Facebook purchased have also left the social media giant in recent years. That list includes Instagram co-founders Kevin Systrom and Mike Krieger, WhatApp’s Brian Acton and Jan Koum and Oculus co-founder Palmer Luckey. The Instagram co-founders reportedly clashed with Facebook CEO Mark Zuckerberg.Mitchell said he’ll be spending time with family and taking time to travel. His departure also comes before Oculus Connect 6, a virtual reality developer conference that kicks off in San Jose, California, at the end of September. Oculus co-founder Nate Mitchell James Martin/CNET Facebook can’t seem to hold onto the founders of the companies it acquires.The latest departure: Nate Mitchell, co-founder of the virtual reality startup Oculus, which launched in 2012 and was bought by Facebook in 2014. Mitchell, the last Oculus co-founder still at Facebook, said Tuesday that he was stepping down.”Virtual reality is still on the bleeding edge of technology, and this community continues to pioneer the way forward,” he wrote in a post on Reddit. “What’s ahead is always unknown, and that’s what makes it exciting.” Some bittersweet news to share. After 7 incredible years at Oculus / Facebook, I’m moving on. It’s been a privilege to be a part of the VR community, and I can’t wait to see what comes next: https://t.co/M3XWASigvS pic.twitter.com/dhzPrdmpuP— Nate Mitchell (@natemitchell) August 13, 2019 0 Sci-Tech Tech Industry Share your voice Oculus Facebooklast_img read more

Donald Trump presidency win rocks global markets

first_img Global markets shook at the prospect of a new era of protectionist trade policies after Donald Trump was elected US President. The Republican candidate won key swing states – such as Florida, Ohio and North Carolina – which cleared the way for his Brexit-style upset.Markets react to President Trump live: Buckle up for a bumpy rideFutures contract – judgements on the direction of travel before the markets open in America – point to the Dow Jones Industrial Average plunging by 800 points when it opens later today (9 November).Trump has vowed to cut taxes, deport around 11 million illegal immigrants and rip up existing trade agreements, such as the North American Free Trade Agreement.Economists at the US-based think tank Macroeconomic Advisers estimate his policies could set the US back $2.1tn over the next five years.Nigel Green, founder of financial services consultant deVere, said: Buckle up for a bumpy ride in the global markets.Whether President Trump will, in fact, do what he has said he will do throughout his campaign, or whether it was just soaring rhetoric to whip up his support base, for now, Trump winning is sending shockwaves across the world. As such, enormous volatility can be expected in the markets.Overnight as a win for Trump looked increasingly likely, Asian markets were the first to fall. Tokyos Nikkei 225 Index was 5.4% down, Hong Kongs Hang Seng slipped 2.5%, while Sydneys ASX All Ords was 2% lower.In Europe, the FTSE 100 Index opened 102.8 points down, or 1.5%, to 6740, knocking more than £25bn off the value of blue chip shares. Germanys DAX was up slightly, but the Cac 40 in France plunged by 2.7%.The US dollar was down against a basket of world currencies. The pound was up 0.3% against the dollar at 1.241. The dollar was also lower against the euro and the Japanese yen.Japans central bank holds crisis talksJapans government and its central bank will hold crisis talks today as traders flood into its currency, viewed as a safe haven, sending its value higher.But the Mexican peso plunged by more than 13% against the dollar, an all-time low at less than 20 pesos to the greenback. Trump has pledged to build a wall against its southern neighbour, and deport millions of illegal immigrants back to Mexico.Mexicos central bank also said it will hold a joint news conference with the finance ministry later today to outline how it will respond to the currencys devaluation.Gold, another safe haven for investors in uncertain times, jumped as much as 5% to $1,337.40 an ounce.Eric LonerganMacro fund manager at M and G Investments said: The critical unknown is whether a Trump presidency pursues the policies of Trump the candidate, in particular his anti-trade, anti-China and anti-Mexico policies. But the real concern is that he will do what he says. Donald Trump presidency win rocks global markets Closecenter_img IBTimes VideoRelated VideosMore videos Play VideoPlayMute0:00/0:00Loaded: 0%0:00Progress: 0%Stream TypeLIVE0:00?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio TrackFullscreenThis is a modal window.The media could not be loaded, either because the server or network failed or because the format is not supported.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading …last_img read more