This past Saturday, venture capital investors on the panel of reality TV show, Shark Tank, were not that impressed by the Oculus Rift accessory Virtuix Omni. The panel consisted of Mark Cuban and Daymond John among others.
As you can see in the video, the investors were a little harsh in addressing an idea that got a pretty good backing on Kickstarter, but they have a point. The guys at Virtuix were seeking $2 million in exchange for a 10% stake in the company, but they didn’t have the right answers to some legitimate questions.
The Omni alone is an expensive treadmill without the Oculus Rift (which is a requirement) and the gun peripheral. It’s also pretty massive and you have to wear special shoes to hop on. While the panel at Shark Tank thought it was a cool idea, they pointed out quite a lot of flaws with the concept as well as the business model. Check out the video above to understand their argument.