Virtual reality is a new medium that provides unprecedented user experiences. Eventually, VR/AR systems will redefine communication, entertainment, education, collaborative work, simulation, training, telesurgery, and basic vision research. In all of these applications, the primary interface between the user and the digital world is the near-eye display. While today's VR systems struggle to provide natural and comfortable viewing experiences, next-generation computational near-eye displays have the potential to provide visual experiences that are better than the real world. In this talk, we explore the frontiers of VR/AR systems engineering and discuss next-generation near-eye display technology, including gaze-contingent focus, light field displays, monovision, holographic near-eye displays, and accommodation-invariant near-eye displays.