https://phys.org/news/2019-01-vr-reality-significant-decline-investment.html

Several California companies that raised millions of dollars have shut down or have laid off dozens of workers, as businesses scrambled to readjust their strategies in the face of lackluster consumer demand for VR headsets and a drought of capital.

"It's just been a drawn-out hype cycle that's promised to be the next big thing for so long," said Nicholas Pappageorge, a senior intelligence analyst at CB Insights. "The investor's patience for the industry has worn thin."