Valve CEO: ‘We’re comfortable with the idea that VR will turn out to be a complete failure’

When Valve launched Steam back in 2003, it was a risky lark: create a digital storefront to sell and maintain Valve's own games, like "Half-Life" and "Counter-Strike." Initiatives like Steam aren't solely from Newell, of course, but he's the driving force at Valve and the only employee with a hierarchical status.