Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company’s virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas. Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.

From the PR email announcing this acquisition. My first response to this was genuinely “Facebook has finally entered Old Media mindset, throwing money away on ridiculous start-ups,” so I half-expect Oculus to blow up in the next two years just to prove me wrong.

But as I get older and sort of wiser, one of the major things I’m realizing is that it doesn’t really matter whether it did or didn’t happen in your head or outside of it or even at all, if it’s “legitimately” bad or just a “first world problem” or whatever the hell hashtag strangers are using to diminish your experience nowadays- if something’s shitty it’s fucking shitty and that’s it. Your personal shittiness is 1) intangible and 2) illogical and 3) entirely unrelated to anybody else’s so 4) who cares? If something’s shitty it doesn’t matter if it’s actually shitty or if it’s just your own bullshit creeping in to say what’s up and poison something average. Your happiness is not a fucking academic essay or an opinion piece some jack-off who’s a worse writer than you wrote for some blog you’ve never heard of that “seems” important but probably isn’t. You don’t have to explain anything to anyone. You don’t have to justify what lets you down.

What a fascinating example of how millennials are using innovative technologies to deal with the most basic of human problems. Except that Rebecca Soffer is not a millennial. She’s 37. According to the Times itself, Neil Howe and William Strauss—the men who literally wrote the book on millennials and are credited with coining the term—establish the start of the millennial generation with people born in the year 1982. That means that today, even the eldest millennials are no more than 32 years old. And yet, the Times trend story on millennial mourning quotes Soffer, the 37-year-old founder of online grief resource Modern Loss; her co-founder Gabrielle Birkner (at 34, not a millennial); 35-year-old Modern Loss blogger Melissa Lafsky Wall (not a millennial); and Jason Feifer, the 33-year-old creator of the Tumblr “Selfies at Funerals” (so close, and yet, not a millennial). Also cited is Esther D. Kustanowitz, another contributor to Modern Loss, though the paper doesn’t divulge her age—perhaps because she is in her 40s. All told, the piece quotes more Gen Xers than it does millennials, even when you count the obligatory reference to Girls protagonist Hannah Horvath, who is 25, and made up.

From here.

I’ve never quite gotten my head around Millennials as a thing; it always seemed even more fake as a generational marker than Generation X, but that might just be my age speaking. I have long suspected that all the talk about Millennials is code for “Get Off My Lawn and Stop Makin’ Me Feel Old, Y’Damn Kids,” and as a result, am worryingly amused that this story seems to back it up.

I apologize, Lucien. But even I cannot argue with time.

The first line of dialogue in Sandman: Overture #2, which is immediately followed by “I can, however, ignore deadlines and force a book off schedule for four months. That, I can definitely do.”

Internal documents obtained by WW show that a quota system is being put in place that calls for steep increases in posting to Oregonlive.com, and promises compensation for those employees who post most often.

The new policy, shown to the editorial staff in a PowerPoint presentation in late February, provides that as much as 75 percent of reporters’ job performance will be based on measurable web-based metrics, including how often they post to Oregonlive.com.

Beat reporters will be expected to post at least three times a day, and all reporters are expected to increase their average number of posts by 40 percent over the next year.

In addition, reporters have been told to stir up online conversations among readers.

“On any post of substance, reporter will post the first comment,” the policy says. “Beat reporters [are to] solicit ideas and feedback through posts, polls and comments on a daily basis.”

The Oregonian will hand out yearly bonuses—if the finances of the company allows it—to reporters who exceed these goals. The policy says “final performance ratings will determine merit pay.”

In other words, the Oregonian is becoming Gawker. Sad, but sadly not surprising, news.

(Seriously, between the insistence on writers getting involved with comments/commenters and the metric-based performance pay, that’s pretty much the world that was in place when I was at io9.)

(From here.)

Is Mad Men The Ghost of Television Past?

Another oldie, from May last year, written for WIRED.

On the slowly-unfolding AMC period drama Mad Men, character arcs and plots can take several episodes or even seasons to come into focus. As the show’s sixth season slowly unfolds, it’s tempting to suggest that the show is at risk of becoming as much a part of the past as the era it portrays. Is television even interested in this kind of programming anymore?

When Mad Men debuted in 2007 — setting a new ratings record for AMC in the process with 900,000 viewers — the landscape of television was different. The Sopranos had just finished on HBO, and The Wire was still on the air; Lost was still in the middle of its run, and the idea of television as the home of long-form, complex, quality drama was something still on the minds of many. Mad Men was simply more evidence of the future of the format.

Cut to 2013, and it’s a very different story. The first episode of the new season had 3.4 million viewers tuning in – down from last year’s season premiere high of 3.54 million – and successive episodes have dropped to around the mid 2 million mark, under the level for the same time last season. More importantly, the show’s importance to AMC has shifted, if not outright shrunk, in light of the phenomenonal success of the channel’s The Walking Dead.

It’s not just that the most recent episode of that comic book adaptation brought in almost four times as many viewers as Mad Men‘s peak, with 12.42 million people watching (It was, after all, a season finale); consider, as well, that the accompanying episode of The Talking Dead –Chris Hardwick’s talk-show companion to the zombie drama — had a series high of 4.3 million viewers; almost a million more viewers than Mad Men for a show that is far cheaper, and far simpler, to produce. No wonder that the channel has announced plans for Talking Bad, a similar show to accompany the final season of Breaking Bad this August.

It’s not only AMC where attention and focus has shifted from quality drama to genre fare. Instead of The Sopranos or The Wire, HBO’s most-discussed series these days is George R.R. Martin’s Game of Thrones, and its most-watched show is trashy vampire soap True Blood. Attempts at more low-key fare like Luck and Treme meet considerably more muted response and, as a result, have shorter lifespans. The audience clearly knows what it wants, and what it wants is apparently sexy genre fare over the chance to see middle-aged men struggle with the complexities of life as we know it.

A similar thing is happening in broadcast television; a cursory glance at the shows networks are developing for the 2013/2014 television season reveals that the hour-long drama format continues to be dominated by unchallenging procedurals, crime dramas or fantasy fare, for the most part. For all the excitement offered by Lost‘s ambitious scope or complicated narrative structure, the post-Lost television landscape has suggested that the show succeeded despite those elements, not because of them. Instead of demonstrating that broadcast dramas can challenge the viewer without scaring them off, the lesson Lost taught broadcast television was apparently that flashbacks can be a legitimate form of long-form exposition (See: Once Upon a Time, The Following).

The slowly shrinking Mad Men audience makes the fact that AMC reportedly cut budgets for both Breaking Bad and The Walking Dead in order to pay for Mad Men‘s most recent seasons somewhat confusing. Admittedly, for Breaking Bad, there is some level of logic from a purely business perspective — The show brings in fewer viewers, and therefore less advertising revenue than Mad Men — but the idea that AMC would undercut its most visible, valuable show for something that is watched by a fraction of its audience is counter-intuitive at best.

Or is it? While the show brings in fewer viewers and less advertising revenue per dollar spent than The Walking Dead (and definitely considerably cheaper The Talking Dead), Mad Men arguably brings AMC far more critical prestige than Robert Kirkman’s horror series.

The same is true of Breaking Bad; even though ratings for both shows may be a fraction of The Walking Dead‘s audience, having two of — if not the two — most highly-regarded television dramas today on its network gives AMC an overall reputation that makes the network brand more attractive to program-makers and advertisers alike. “AMC,” it suggests, “is where the forward thinkers, the early adopters, the smart buyers go for shows. Sure, less people might watch overall, but the ones that do watch are the tastemakers you want.” Add that prestige and attention to the middling ratings, and Mad Men earns its keep.

We’ve seen this before, with NBC Universal’s Syfy and Battlestar Galactica; Ron Moore and David Eick’s series was never the highest-rated show on the cable network, but unlike the more popular Stargate: Atlantis or Warehouse 13, it did snag the network a Peabody Award and prompt a discussion of human rights at the United Nations. To be blunt, you genuinely can’t buy publicity — or affirmation — like that. When a show starts connecting with people in such a way, you keep that show on the air as long as you can before it starts to really hurt financially.

The problem is that, eventually, it will start to hurt financially, and at that point you have to start to say goodbye. Television is a business, after all, and there comes a point where leaving money on the table in the name of critical plaudits starts to seem foolish; you can’t use acclaim to put food on the table, after all. Goodwill only goes so far, and with every single episode, more people are leaving Don Draper for other shows.

Battlestar Galactica lasted four seasons (Five, if you include the original mini-series that launched the reboot); Breaking Bad will last five. Mad Men, by the time it’s finished, will have lasted seven seasons. All things considered, that’s an impressively long run, especially considering the alternative programming AMC could have opted for at any point that would have brought more people watching. It may simply be that Mad Men the show has a parallel existence to Don Draper himself: Slowly becoming outdated without anyone realizing it at the time.

This doesn’t bode well for the future of television drama, though. If broadcast networks are going to play it safe in terms of selecting new shows, and the previously-reliable cable and premium cable channels have discovered that genre is far more successful than “straight” drama when it comes to return on investment and eyeballs-on-shows, that’s a problem for any new show that wants to play things slow, subtle and lavishly enough that its budgets may make executives nervous. Given the choice between something with the potential to become a breakout hit and something with the potential to break even but maybe garner critical acclaim, it’s more of a risk to go with the latter option, and with the television industry in seeming flux (Ad spending was down in 2011, back up in 2012, an election year), now might be the time to play it safe. So where will we see the next Mad Men?

The answer may be online. We don’t yet know — and may never know, considering just how closely guarded viewing numbers at Netflix tend to be — how many people have streamed House of Cards so far, but let’s do some creative math for a second: Mad Men averages between 2.5 and 3 million viewers an episode, as does Breaking Bad, so let’s say that that means there’s a three million-strong audience for those shows in the U.S. at least (Bear in mind, DVRs, DVD and streaming audiences alike aren’t factored into those numbers; Sunday’s Mad Men often tops Apple’s iTunes TV chart on Monday, so there’s a second audience right there that’s already digital to consider).

Admittedly, a new drama in that vein wouldn’t have the name recognition nor the critical acclaim that would drive people to tune in, so the math may be somewhat skewed upwards. Perhaps not, once you factor in the audience that wanted the show in another format than live-viewing and the additional audience who might be interested in the show but stays away because it’s already five years in (Or, for that matter, the audience who might watch just for the novelty of something new).

Nonetheless, it’s safe to assume that the metrics for “success” for a streaming-first show are somewhat different than that for a traditional television show, if only due to the newness of the format and the smaller scale of the audience. Is it possible that a Mad Men-style 3 million people audience would be enough to be considered a smash hit for streaming? Could the future of prestige television drama be somewhere that isn’t technically television at all?