Since its founding in 2003, researchers at VHIL have sought to better understand the psychological and behavioral effects of Virtual Reality (VR) and, more recently, Augmented Reality (AR). Almost two decades later, we are in the Dawn of the Virtual Revolution. VR is finally widely available for consumers, and every day we are seeing new innovations. It is critical, now more than ever, that we seek answers to these important questions: What psychological processes operate when people use VR and AR? How does this medium fundamentally transform people and society? What happens when anyone can have a perfect experience at the touch of a button? And how can we actively seek to create and consume VR that enhances instead of detracts from the real world around us?