Latest / Bloomberg Intelligence / Penrose's Chung on Google's Daydream VR Platform Debut (Audio)

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Penrose's Chung on Google's Daydream VR Platform Debut (Audio) · Bloomberg Intelligence

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  Speaker 1: Broadcasting live to New York, Bloomberg to Washington, d C,
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  Speaker 1: Bloomberg to Boston, BLUEMBERG twelve hundred to San Francisco, Bloomberg
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  Speaker 1: nine to the Countries, is at M and around the
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  Speaker 1: globe the Bloomberg Radio Plus and Bloomberg Got Gone. This
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  Speaker 1: is taking stock. According to reporting from Bloomberg, Google is
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  Speaker 1: set to launch day Dream virtual reality sometime in the
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  Speaker 1: coming weeks. They're laying the groundwork for the launch of
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  Speaker 1: this virtual reality and network. It comes also with the
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  Speaker 1: official debut of the Androids seven point O operating system
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  Speaker 1: this week. The new report says Google is investing in
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  Speaker 1: big and original content to include the launch of its
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  Speaker 1: VR platform. We've got more on virtual reality coming up
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  Speaker 1: right now, Real Reality with Charlie Pellett in the Bloomberg
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  Speaker 1: Wall Street. Now, let's take a look at some of
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  Speaker 1: the other stories making news. Thank you Charlie from the
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  Speaker 1: Bloomberg News Room. I'm Jill Schneider. This news update is
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  Speaker 1: this is Bloomberg, Charlie, and we thank you. What again
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  Speaker 1: recapping SMP five hundred index up five to gain there
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  Speaker 1: of three tenths of one percent. I'm Charlie Palatine. That's
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  Speaker 1: sub Bloomberg Business Flash. This is taking Stock with pim
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  Speaker 1: Box and Kathleen Hayes on Bloomberg Radio. Virtual reality, What
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  Speaker 1: is it and how does it work? And what are
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  Speaker 1: Google's plans to dominate this industry? We have Eugene He
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  Speaker 1: is the chief executive and the founder of Penrose Studios.
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  Speaker 1: He joins us from a San Francisco home to Bloomberg
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  Speaker 1: nine sixty and he can be followed on Twitter at
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  Speaker 1: e y see Eugene Chung. Thanks very much for being
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  Speaker 1: with us. Thank you for having me. Can you describe
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  Speaker 1: what is virtue reality and how do you put it together?
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  Speaker 1: Absolutely so. Virtual reality is a revolutionary new technology. It
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  Speaker 1: allows a user or a viewer to take a virtual
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  Speaker 1: reality head amounted display and when that viewer puts it on,
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  Speaker 1: they are instantly transported to another world. It's called presence
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  Speaker 1: or the magic of presence, which is that unmistakable feeling
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  Speaker 1: that you are someplace else. All right, you're someplace else.
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  Speaker 1: But how does it work? I mean, I can imagine,
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  Speaker 1: for example, wearing three D glasses. You know, you've got
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  Speaker 1: a red and a green filter. You go into the
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  Speaker 1: movie theater. That's old hat. This is nothing to do
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  Speaker 1: with that, is that correct? That's absolutely right. This is
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  Speaker 1: very different from three D technologies. It actually a modern
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  Speaker 1: virtual reality has come about after the waves of VR
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  Speaker 1: that we passed for several decades. So VR was around,
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  Speaker 1: you know, tens twenty years ago, but unfortunately it was
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  Speaker 1: either too expensive and therefore only the military got to
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  Speaker 1: use it, or it was cheap but it wasn't very good.
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  Speaker 1: So things like the intended virtual boy come to mind. However,
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  Speaker 1: with modern virtual reality, the advancement of smartphone screens means
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  Speaker 1: that Apple and Samsung spent billions of dollars in other
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  Speaker 1: companies spent billions of dollars making high resolution, high refresh
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  Speaker 1: rate screens, and the unintended beneficiary was the virtual reality industry.
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  Speaker 1: So now in the last several years, we had a cheap,
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  Speaker 1: relatively cheap consumer made br that utilizes cellphone screen technology
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  Speaker 1: and you put out those cellphone screens inside of the
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  Speaker 1: headbound display and as you you look around, the world
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  Speaker 1: moves around with you, or at least it seems to.
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  Speaker 1: And therefore you're the consumer is able to pretend or
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  Speaker 1: feel like there's someplace vastly different from where they are now. Well,
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  Speaker 1: Eugene explained, then how does Penrose Studios fit into all this?
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  Speaker 1: And just by way of background, before founding Penrose Studios,
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  Speaker 1: you were ahead of film and media at Oculus VR
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  Speaker 1: and that was later required by Facebook for two billion dollars. Yeah,
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  Speaker 1: absolutely right. So Penris Studios at Penri City is we're
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  Speaker 1: a startup based in San Francisco, and we are dedicated
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  Speaker 1: to making high quality, heard, warming, emotional stories and movies
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  Speaker 1: inside of virtual reality. UM. We utilize a real time
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  Speaker 1: engine that allows you to move around is space and
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  Speaker 1: really explore the space. The highest end VR consumer handsets
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  Speaker 1: today allow you to explore FID team foots by fIF
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  Speaker 1: team foot space. UM. So we take this technology and
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  Speaker 1: we create our own technologies to go build these virtual
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  Speaker 1: worlds and the characters as well as the stories within them,
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  Speaker 1: and of course the portamont to different VR headsets like
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  Speaker 1: the aduost, HTC Live and now Google Daydreams. Now, one
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  Speaker 1: of the movies that you have made is called The
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  Speaker 1: Rose and I. It debuted at the Tribeca Film Festival
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  Speaker 1: in and this is described as the first virtual reality
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  Speaker 1: feature movie, absolutely right. So you know, the rese and
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  Speaker 1: I was our early attempts at VR storytelling, you know,
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  Speaker 1: and in many ways that sort of harkens back to
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  Speaker 1: the early days of filmmaking, which is twenty years ago.
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  Speaker 1: And in many ways we see this as the birth
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  Speaker 1: of a brand new artistic medium. And just as the
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  Speaker 1: cinema came in and displaced existing form as a visual
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  Speaker 1: audio storytelling in any ways, so theater opera, Uh, we
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  Speaker 1: believe that VR is this next great wave of artistic storytelling.
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  Speaker 1: So you know, the allumet our second piece is now
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  Speaker 1: twenty minute piece. Then it tells a full narrative story,
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  Speaker 1: and it's one of the longest vur narratives of its type.
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  Speaker 1: Um and we're just starting to grass the service and
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  Speaker 1: break ground about what this new medium is going to do.
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  Speaker 1: If you're going to make a virtual reality move to
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  Speaker 1: be seen on the Daydream virtually reality network of Google,
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  Speaker 1: would you have to use sixteen cameras. So you know,
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  Speaker 1: there are different ways to get the content on Daydreams.
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  Speaker 1: So Google is definitely very focused on its Joke camera system,
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  Speaker 1: which which works well with its Google Daydream system, and
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  Speaker 1: that's to create three sixty videos. So you know, if
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  Speaker 1: you want to create three sixty videos for the platform,
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  Speaker 1: the Google Jeff camera is the way to go. However,
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  Speaker 1: Google Daydream is following in the footsteps of many of
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  Speaker 1: the sort of major players and VR so like Basbook, Oculus,
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  Speaker 1: the Vibe, and Samson with a gear VR and PlayStation
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  Speaker 1: with its own headset. And what it's doing is it's
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  Speaker 1: allowing the creation of what's called real time storytelling, a
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  Speaker 1: real time rendering as well. So you know, in a movie,
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  Speaker 1: you have CG animated films and you also have real
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  Speaker 1: films UM in VR. What's interesting is that CG animation
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  Speaker 1: or sort of what we call real time animation actually
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  Speaker 1: works really really elements out of virtual reality because allows
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  Speaker 1: you to move around in the space, the explore the space,
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  Speaker 1: um you know, better than the other players. So this
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  Speaker 1: new iteration of Google Daydream, what they're updating is they're
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  Speaker 1: allowing you to use real time engines like Unreal Engine
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  Speaker 1: and Unity and things like that. UM and that's actually
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  Speaker 1: what we're going to utilize because we believe that it
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  Speaker 1: delivers the higher level immersion. So it's still a film,
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  Speaker 1: you know, it's still movies, but you're able to use
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  Speaker 1: utilize the three sixty engine and uh and that's different
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  Speaker 1: from you know, a three sixty degree video. So you
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  Speaker 1: have a lot of options, and the Google is doing
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  Speaker 1: a great job and updating the platform for the capability.
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  Speaker 1: Thanks for explaining all of this. Eugene Chung is the
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  Speaker 1: chief executive and the founder of Penrose Studios. Joining us
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  Speaker 1: from San Francisco, of course, home to Bloomberg six. You're
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  Speaker 1: listening to Taking Stock. I'm pim Fox my co host
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  Speaker 1: Kathleen Hayes on her way to Jackson Whole, Wyoming for
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