I see a lot of the same thought process when things go away. But , take meta for example , spending billions on the metaverse - most lean towards that being a fools errand and a waste of money. Research and investment doesn’t always lead to where the final destination was expected. Personally I’m glad some companies like meta still push money to research and development because it can lead to cool things in the future that were not intended.
I feel people would be more “forgiving” of zucc’s spending in the meta verse if he had just done it instead of renaming the company and trumpeting it as the second coming of God himself.
This is a tough one. Based on what we've seen so far the Metaverse seems unlikely to succeed and will likely end up as a massive boondoggle. Yet, it is so ambitious that anything less than a full fledged pivot would indicate it was just a niche thing to be abandoned. Not going all-in could be seen as a self-fulfilling prophecy that it was doomed to fail. I can definitely see how it was an all or nothing decision.
Concur on probability of failure here. Want to add that Meta does need to bet the farm on a personal device that they're able to track and monetize in the way that iOS and Android offer their corporate parents.
Without a device in every hand/household Meta simply pays rent to Tim and Sundar and, as ATT demonstrated, is up for eviction at any time. Meta needs a hit device to survive.
It depends on what your definition of the Metaverse is. The metaverse is not a Facebook / Meta exclusive platform. It's simply AR / VR with a connection to the internet. Most people, who have fallen for Meta's marketing and haven't used modern VR within the last 2 years, don't seem to realize this. No one company can singlehandedly control the entire internet, even if just the VR / AR side of it. That only happens in fantasy novels like Ready Player One.
Meta, the company, might not seem to have great prospects for now; but the metaverse is still the future despite its current clunky form factor and high cost (with the exception of the Quest 2).
In defense of Zuck, I agree with sklargh. Solely relying on ad revenue is a future dead end. Facebook needs its own hardware platform to survive.
I thought he was forced to rename the company due to some anti-trust law suit. Something about facebook being a monopoly and having to restructure some things
I feel that it had more to do with Facebook’s toxic brand from the Cambridge Analytica scandal. The Quest 2 is actually a good video game platform that so few people actually tried instead of just panning it due to Facebook’s notoriety
Yes and we get to watch on TikTok, Reels and YouTube legions of Oculus users falling to punching their family members in the face while playing. The recent one with grandma https://www.facebook.com/watch/?v=690843345659240
All these videos though could be a good thing for Meta and Oculus's adoption..there were tons of other videos with the Nintendo Wii with users throwing their controllers and breaking things.
