Zuckerberg's $100B metaverse gamble is 'super-sized and terrifying,' sharehol...
In an open letter, Altimeter Capital's CEO and founder recommended the tech giant cut its Metaverse investments from $10-15 billion a year to $5 billion. A shareholder’s open letter to Meta CEO Mark Zuckerberg has labeled the tech giant's investment into the Metaverse as “super-sized and terrifying.”The shareholder has urged the company to scale down its investment in the Metaverse and its related technology arm amid a significant fall in its stock price over the last 18 months. The open letter was published on Oct. 24 and was directed at Zuckerberg and the board of directors. It was....
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Mark Zuckerberg, CEO of Meta, formerly Facebook, has shared how the metaverse will be a key part of his business and bring hundreds of billions of dollars in revenue. “Our playbook over time has been build services, try to serve as many people as possible,” said Zuckerberg.
Mark Zuckerberg on the Metaverse
Mark Zuckerberg, the CEO of Meta Platforms, formerly Facebook, talked about the metaverse in an interview on Wednesday with Jim Cramer, the host of CNBC’s Mad Money.
The Facebook co-founder explained that he expects the metaverse to be....
As of the end of September, Meta had more than 87,000 employees — a large proportion of which is said to work in the Reality Labs division. Social media and tech giant Meta is reportedly gearing up for “large-scale layoffs” this week amid rising costs and a recent collapse of its share price.According to Wall Street Journal (WSJ) report on Nov. 6 citing people familiar with the matter, the planned layoffs could impact thousands of employees in a broad range of divisions across Meta’s 87,000-strong workforce.It is not currently understood whether the firm's Reality Labs division, which....
Meta's Reality Labs division lost $3.672 billion in the third quarter. Some shareholders aren't happy with the company's oversized investment in metaverse technology. Not everyone is convinced that Mark Zuckerberg’s massive metaverse experiment is a good idea. Since Facebook rebranded to Meta in 2021, the social media giant’s focus has increasingly shifted to connecting the digital and physical worlds through augmented reality. However, a shareholder of the company recently issued a letter to the CEO calling the metaverse investment “super-sized and terrifying.”It didn’t take long for....
Meta CEO Mark Zuckerberg has decided to overhaul the company’s flagship metaverse app Horizon Worlds after it received heavy criticism due to its graphic simplicity. The backlash was received as a consequence of one of the selfies of Zuckerberg’s avatar in Horizon Worlds presented to illustrate the launch of the platform in Spain and France.
Horizon Worlds to Get Graphics Overhaul
Mark Zuckerberg, CEO of Meta, a social media and VR company, announced that a series of changes are coming to Horizon Worlds, Meta’s metaverse-focused app, to make it more immersive....
Meta, the company formerly known as Facebook, is preparing to face a strong market downturn. According to reports, Mark Zuckerberg, CEO of Meta, announced a change in the hiring policies of the company, lowering the number of engineers planned to be hired from 10K to 6-7K. Previously, Zuckerberg had warned about the metaverse pivot of the company and how it could make it lose money in the near future.
Meta Preparing for a Difficult Future
Meta, the social media and tech company that pivoted to metaverse tech, has announced a series of actions to help it face a market downturn in....