Up until now virtual reality has been a disappointment for all those people pining for their own personal holodeck. But advances in the components required to create a truly immersive digital 3D experience have finally broken through much of what has been holding virtual reality back. As a consequence, Oculus VR is building something that is nothing short of a new medium. Chris Dixon, Balaji Srinivasan, and Gil Shafir discuss the present and future potential of virtual reality. Take heart, the holodeck can’t be far away now.