Makers of The Metaverse: Lyron Bentovim of The Glimpse Group On The Future Of The VR, AR & Mixed Reality Industries
An Interview With Fotis Georgiadis
Being a part of the VR/AR industry also means being a part of the VR/AR community. People interested in a career need to integrate themselves into VR/AR communities, whether it’s local or online. It’s a great way to network, learn from others, and if you’re like me, eventually found your own company.
The Virtual Reality, Augmented Reality & Mixed Reality Industries are so exciting. What is coming around the corner? How will these improve our lives? What are the concerns we should keep an eye out for? Aside from entertainment, how can VR or AR help work or other parts of life? To address this, we had the pleasure of interviewing Lyron Bentovim.
Lyron Bentovim is the CEO and President of The Glimpse Group, a NASDAQ listed Virtual Reality and Augmented Reality company. Founded in 2016, Glimpse is made up of multiple subsidiary companies all developing enterprise VR/AR solutions for a variety of use cases. Lyron is a serial entrepreneur with over 25 years of leadership experience in technology and finance companies and holds an MBA from the Yale School of Management as well as a Law degree from Hebrew University.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit. Can you tell us a bit about your backstory and how you grew up?
I was born and raised in Israel, but from K-12, I went to nine separate schools in three different cities across two countries. So growing up I learned to adapt to new environments quickly and not be afraid of new challenges. I needed to orient myself in a new school, a new home, and a new city all the time growing up.
I have always been an entrepreneur. I started several businesses as early as middle school, the most successful of which was a computer configuration business. Basically, I’d take an average computer and personalize it for that particular customer. That was my first business in the tech industry and it showed me how important user experience was when it came to personal devices.
Eventually when I was 21, my friend and I saved up enough money to buy a local ice cream shop. At the time, it was a regular ice cream shop, but we quickly turned it into much more. We bought an espresso machine, began serving coffee, and eventually expanded to a whole menu offering breakfast foods. My parents loved coming into the shop so that I would cook them breakfast. That was fun for them.
Is there a particular book, film, or podcast that made a significant impact on you? Can you share a story or explain why it resonated with you so much?
I love Star Trek. I’ve seen all of Star Trek, and I don’t just mean the original series, but all of it. Every single episode of the original series, The Next Generation, Deep Space 9, Voyager, all of the movies, everything.
The reason I think VR is so powerful is definitely tied to Star Trek. Immersive technologies allow you to create your own reality, and I think that idea is present across all of the Star Trek series. I always wanted to recreate the technology you see in Star Trek and, in a way, VR is our version of the holodeck.
Is there a particular story that inspired you to pursue a career in the X Reality industry? We’d love to hear it.
I came into the world of VR and AR through a simple Google search…. In Early 2016 it dawned on me that we are in the very early days of a new tech cycle. Since I lived in the New York City area I wanted to better understand the local scene , and so I Googled the term “NY VR.”, little did I know that this simple search will lead to the founding of a NASDAQ listed company (this should be a movie or at least a google commercial) Coincidentally, DJ Smith — who is now my co-founder and Glimpse’s Chief Creative Officer — was hosting his “NYVR Meetup” that afternoon.
I connected with DJ and we went to lunch to talk about VR, AR, and the idea of starting a company in that new industry. It was an exciting time to join the VR industry: the Oculus Rift had just been released, and organizations like the NYVR Meetup were starting to form all around the world. I knew that VR technology was promising, but communities like NYVR showed that there was a real public interest in immersive technology.
Can you share the most interesting story that happened to you since you began this fascinating career?
One of our earliest subsidiary companies was called Kabaq (since rebranded as QReal), during the early days they focused on creating life-like 3D models of restaurant dishes.
When we would meet with investors — and we had to pitch to a lot of investors in the early days — I used Kabaq’s 3D model of a cheeseburger as part of our early demos. People were always drawn to the burger model. Many nights after a demo (usually around dinnertime) I’d get a call or a message from the visitor saying, “Guess what I’m eating right now?” It’s funny, but I think it illustrates an important point. VR has this ability to replicate reality so convincingly that if you see a burger in VR, you suddenly want a burger in real life.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
Starting the company was a mistake — I’ve been stuck with it ever since!
Once DJ and I decided to found the company, we realized we were starting from a tough position. Most companies start with at least one of the parts you need to operate, whether it’s manufacturing capabilities, a prototype, money, things like that. We had a great idea and a unique company structure, but no ability to make anything and no money.
So at that stage, it was challenging to pitch to investors. When we reached out to investors with a demo — this was in 2016/2017 — we would use the Oculus Rift, which had just come out. Everyone was so impressed because they hadn’t seen VR before, but the question we’d always get was, “So is this your VR device?” When we said no, the next question was, “Well when is yours coming out?” Like I said, we had no money and no ability to make anything, so it was difficult convincing people to invest at that stage.
Convincing tech startups to join Glimpse was also tough in the beginning. Obviously, people are very attached to the business they founded, and everyone’s certain it will eventually be worth millions. Since we had no money, we were offering to buy out companies with shares in Glimpse which, again, was worth nothing at the time. Our company structure also means that Glimpse financially supports our subsidiary companies, which we couldn’t do either. It was a difficult problem to solve.
Eventually, we figured out that getting investors and subsidiary companies to join Glimpse was kind of like starting a party. When you invite someone to a party, the first question they ask is, “Who else is coming?” That’s when we’d reach out to a second investor, who was also potentially interested depending on who else joined. Eventually, we got enough maybes that we created a big presentation event and hosted a dinner for all of the potential investors. When they looked around the table and noticed how many other people were there, they noticed, “Oh, this is really something real now.” Joining Glimpse became much easier from there.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
I really never had the perfect mentor growing up. I’ve been searching for a mentor all my life, and I’m still searching. I’ve had lots of unintentional mentors because, more than anything, I’ve learned from other peoples’ mistakes. Observing other leaders in the tech industry, both today and in the previous tech cycle, was a big part of my learning process.
Are you working on any exciting new projects now? How do you think that will help people?
Our partnership with North-Star Care (NSC), a tele-health alcohol treatment program provider, comes to mind. Our subsidiary company Foretell Reality focuses on soft skill development and therapy, developing tools and environments for social connection in VR. Foretell is working closely with NSC to develop VR experiences for their remote treatment programs.
NSC’s goal is to reduce barriers to addiction treatment. They offer remote treatment programs for addiction, providing access to those who aren’t able to receive treatment in-person. This is a great example of how we can use VR for important social good, because VR is the perfect medium to enhance NSC’s remote treatment programs. Non-verbal communication (hand gestures, body movement) is only possible using avatars in a shared virtual space, and it allows users to connect more meaningfully with one another than over the phone or Zoom. Foretell’s VR environments also offer group activities and shared media, so treatment is a more communal process. The social potential for VR is quite powerful.
Ok super. Thank you for all that. Let’s now shift to the main focus of our interview. The VR, AR and MR industries seem so exciting right now. What are the 3 things in particular that most excite you about the industry? Can you explain or give an example?
Today, hardware is more affordable than ever. When we did demonstrations for investors in 2016, the Oculus Rift was the most affordable headset on the market at $600. The HTC Vive was even more expensive at $800 and for either you needed a “gamer” high gPU PC that would cost you an additional $2500, in addition you also had to lug around a whole setup of sensors and poles to make it work. Nowadays, we have the Oculus Quest 2 at $299, and it’s entirely self-contained, no PC or smartphone required. That’s a huge leap forward.
Haptic feedback is another exciting development in VR/AR hardware. Haptic feedback uses vibrations and motions to recreate the sensation of touch, which is great for VR because of the lack of traditional tactile devices like keyboards, controllers, or a mouse. Conveying the feeling of picking up a virtual object, rather than just visually picking it up, is a major advancement in how immersive VR feels and a sign of the future of immersive technology.
Meta’s upcoming AR glasses, codenamed “Project Nazare,” also represent an important upcoming development in the world of VR/AR. For a technology to reach mass adoption, not only does the hardware need to be affordable, but consumers need to want the technology in the first place. Devices that are not only priced for consumers but are clearly useful in their daily lives will massively accelerate mass adoption, and we’re finally starting to see signs that those kinds of devices are on the horizon.
What are the 3 things that concern you about the VR, AR and MR industries? Can you explain? What can be done to address those concerns?
The first thing is a lack of patience across the board. Few people understand how tech cycles work, they don’t understand the specifics of this particular tech cycle we’re now in. Tech cycles are 30–35 year cycles and development takes time, and we’re currently in year 7–8 of this cycle and we are right on schedule in line with previous cycles. But people are expecting a fully-formed metaverse by tomorrow, and that doesn’t happen overnight.
My second concern is about public excitement around emerging technologies. People are way too excited about the potential of new tech and they overestimate what it’s currently capable of. So when they realize it’s not as advanced as they think, the pendulum swings the other way, and they become very dismissive of the new tech. We will eventually get to a place where excitement around new tech is more consistent and in line with the actual development of the technology.
My last concern is on the hardware side. Despite what I just said about patience, I am surprised that nobody has really solved the field of view issue with AR yet. I knew that problem was going to take time to solve, but I was expecting more progress than where we’re currently at. That’s a major issue holding back mass adoption of AR, and once we get that solved, things will accelerate pretty quickly leading to mass adoption by consumers and businesses.
I think the entertainment aspects of VR, AR and MR are apparent. Can you share with our readers how these industries can help us at work?
VR/AR has a place in every industry, from healthcare to manufacturing to education. Let’s take the architecture, engineering, and construction (AEC) industry as an example. In AEC, architects have to model buildings either by hand or using 2D screens before construction can begin. Poor visualization is the leading cause of rework costs, which can eat up to 20% of the total project budget. By viewing building plans in VR, plans can be visualized in a 3D space that’s more intuitive for architects and more impressive to investors.
Corporate training is another great example. Studies show that conducting employee training in VR leads to more effective and efficient employees. Not only do employees come out better trained, but the training process itself takes significantly less time and less resources from the company generating better outcomes and a strong ROI. Bringing a new employee up to speed as fast as possible is a priority for any company, and VR training is the best way to do it.
Are there other ways that VR, AR and MR can improve our lives? Can you explain?
The digital technology cycle created for the first time a connected world. Thanks to technology we can now work together with colleagues around the world and have video calls with family members that live on the other side of the world. Immersive technologies will truly make earth a global village, the Metaverse will allow us to travel, work, shop and get entertained together in an immersive world regardless of where we live.
What are the “myths” that you would like to dispel about working in your industry? Can you explain what you mean?
This goes back to what I said about patience, the metaverse is not here today! Since Meta’s rebranding announcement last fall, people often think that the metaverse is already here, or that it’s entirely owned by Meta. Neither is true. The metaverse — once it’s fully realized — won’t be owned by any single corporation or person. All the time, I hear people saying, “I’m building my own metaverse!” What they really mean is, they’re building a 3D world. The metaverse will contain many 3D worlds, but that one 3D world is not the metaverse.
What are your “5 Things You Need To Create A Highly Successful Career In The VR, AR or MR Industries?”
- In order to work in the VR/AR industry, developers need to learn a programming language and become familiar with a platform. Each VR or AR device is built on a platform using a particular coding language, so developers first have to decide whether they want to focus on VR or AR. From there, you can decide what device you want to program for, whether it’s a VR headset like the Oculus Quest 2 or AR-powered iPhone apps. Once you’ve decided, you’ll know which programming language to learn and which platform to become familiar with. A VR experience on the Quest 2 might be built on Unity using the C# programming language, so you should learn how to program in C# for Unity. If you’re interested in developing AR apps for iPhones, you should learn Swift and download Xcode.
- Whether you want to do operations, programming, or graphical design, anyone in the VR/AR industry needs an education. That doesn’t mean you need a traditional college degree, but you have to pick up the skills needed for your job before you can get hired. Plenty of our developers at Glimpse arrived at that position in different ways: some have a computer science degree, some took a bootcamp course online like XR Terra, and some are self-taught. It doesn’t matter how you get there, but focusing on your education is key.
- Because the VR/AR industry is relatively new, employees in the industry need to be flexible and adaptable. VR/AR employees don’t benefit from the established industry standards which older industries have, but they’re not tied down by those standards either. Working in a new industry like ours requires creative thinking and responsiveness to new challenges, but that’s part of what makes VR/AR so exciting.
- As with any new industry, the world of VR/AR is constantly evolving. It’s important to stay informed on the latest industry news and upcoming developments, especially given how fast the technology is improving. Keeping your ear to the ground is key to succeed in the VR/AR industry.
- Being a part of the VR/AR industry also means being a part of the VR/AR community. People interested in a career need to integrate themselves into VR/AR communities, whether it’s local or online. It’s a great way to network, learn from others, and if you’re like me, eventually found your own company.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
Education. Education is so important, and one of the biggest mistakes we make as a society is not investing enough in education. When we focus on educating all kids, it creates so many more opportunities for those kids to succeed. And I’m not just talking about the K-12 level or the university level, but even before that, at the pre-K level. Most countries aren’t taking any responsibility for pre-K education, leaving it solely to the parents to figure out, and that’s a big mistake. Bringing high quality education to all kids everywhere is a major personal passion of mine, and I think VR and AR can play a huge role in achieving that.
We are very blessed that very prominent leaders read this column. Is there a person in the world, or in the US with whom you would like to have a private breakfast or lunch, and why? He or she might just see this if we tag them 🙂
A few major figures come to mind, but a relevant one for this interview would be Mark Zuckerberg. Although we differ greatly on how we run our businesses, we see the future from a very similar lens (both would be very interesting topics for discussion). I would focus our time together on understanding the true strategy behind the founding of Facebook. As someone that has taught Entrepreneurship I think Facebook is one of the companies that has solved the classic start-up “chicken and the egg” problem better than anyone. When Facebook was founded, it started with a very small user base, initially just Harvard sophomores. Creating enough value to engage them and then growing by expanding to all Harvard students and then to Ivy League schools, all colleges nationwide, then the entire US and then the entire world.
That step-by-step expansion was perfect for the service they offered. If Facebook started at the global level where anyone around the world could make an account, you could have 100,000 users, but none of them would know each other. Starting in small communities where people wanted to connect with others and building out from there, was a perfect example of how to grow a business’s user base organically and deliberately.
So if we got lunch together, I’d ask him whether he knew he wanted to take that approach from the start, or if it just happened naturally and he lucked into it.
Thank you so much for these excellent stories and insights. We wish you continued success on your great work!
Makers of The Metaverse: Lyron Bentovim of The Glimpse Group On The Future Of The VR, AR & Mixed… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.
