[dylan604]

There's a bunch of details that can be suggested, but the sad (actually, amazing) thing is that compression and encoding software has come such a long long way, that most of the default settings will produce a very decent result. FFMPEG + x264/x265 are stunning with minimum inputs required (minimum compared to the many many switches you can fiddle with individually).

For a broader understanding, look into the basics of how codecs like h.264/h.265 work. Learn about I frame encoding and how P and B frames work. Learn about the affects of long-GOP (multiple seconds) encodes for streaming purposes vs shorter GOPs (half second). Understand how an encoder makes it's vector decisions. How/why static videos encode compared to fast action. How will the videos you intend to use for VR/AR fall into those categories.

Resources like articles on Wikipedia have lots of information on the technical side of things without that are not video compression tutorials. However, learning the tech side will help make informed decisions on what knobs to tweak and why. There are so so many actual blogs/tutorials/SO answers/etc that will give you actual settings to apply. Once you have the specific question, I will be amazed if there is no answer available for it online.