Fear reigns among Meta’s ex-Facebook stockholders since the company announced a drop in user numbers and $ 10 billion in losses due to its virtual world. And even facebook lifted the threshold on this first data a few months later, the platform CEO, Mark Zuckerberg, thinks the metaverse will cause the firm to lose a lot of money in the near and medium run.
Everyone now knows that Meta, whose stock market value has almost halved since the beginning of the year, is putting the metaverse at the top of its priority list for the future. The organization invests tens of billions of dollars in its development.
Mark Zuckerberg confirmed this at a meeting of the company’s shareholders a few days ago. When pressed about questions of return on investment, the creator of Facebook admitted that he intended to spend extensively on the creation of the metaverse, meaning large losses that he expects to incur over the next three to five years.
“We want the hardware to be as affordable as possible for everyone and make sure that the digital economy grows,” Zuckerberg told his shareholders.
As of the writing, Mr. Zuckerberg and his team plan to make up for the losses caused by the metaverse by focusing on new fashionable formats like Instagram Reels and other short video services, which are gaining traction inside the firm to compete with TikTok.