"Valve's work up to 2013 had made real-time tracking in VR a viable proposition. But although it had worked out the fundamentals, it wasn't about to build its own headset. And why would it? The public had already voted with its wallet, funding Oculus to the tune of $2.4 million. In Jan. 2014 Valve announced that it would collaborate with Oculus on tracking to "drive PC VR forward." It also said it had no plans to release its own VR hardware, although it noted that "this could change" in the future.
It's clear that at some point Oculus and Valve's cooperative spirit fell apart. It could be that Oculus and Valve disagreed on what VR should be: The Rift and Vive certainly offer different experiences. But it's also been suggested that communication from Oculus ground to a halt in the months after the Facebook acquisition, which forced Valve to explore other paths. It's unlikely that anyone will go on the record to confirm that for years. All we know is that in early January, Luckey was reportedly calling Valve's tech "the best virtual reality demo in the world," and by late spring, HTC and Valve were meeting to hammer out a deal."
