Zuckerberg met with Cramer in the metaverse. But, you know, the other services that we run are at a somewhat larger scale already today."Įxperiences in the metaverse can be more immersive than text, photos or videos, which are pervasive on Meta's Facebook and Instagram, and so it will be a big theme for Meta over the next decade, Zuckerberg said.
But I still think it's going to take a while for it to get to the scale of several hundreds of millions or even billions of people in the metaverse, just because things take some time to get there. "I've been really happy with how that's gone. "Quest 2 has been a hit," Zuckerberg told the "Mad Money" host. Zuckerberg expressed optimism about the performance of its current-generation Meta Quest 2, which starts at $299. Shipments of headsets have failed to outnumber shipments of PCs or smartphones. The company's ticker symbol changed from FB, a relic of its history as a pure social media provider, to META earlier this month.īut the company's investment in augmented reality and virtual reality dates back to 2014, when it paid $2 billion for headset maker Oculus VR. Zuckerberg has been increasingly directing the company toward what he views as the next generation of content, a virtual world where people can buy and sell digital goods for avatars who can communicate with one another. Investors have cut the company's market capitalization in half this year as growth has slowed and the number of its daily active users declined sequentially for the first time between the last two quarters. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower But there are still lots of steps ahead to achieving that goal.Best Debt Consolidation Loans for Bad Credit The efforts and investments show we can expect a bright future for this company and the path toward the real metaverse project. Meta has been one of the biggest companies talking about the metaverse and working on it. In addition to weighing in on the App Store debate, he also highlighted the fact that he believed it was “problematic” for one company to be able to have complete control over what apps people in the future receive on their devices.
Zuckerberg said the company had been doubted previously over its ability to pivot to mobile devices or deal with “ content issues,” but he did not elaborate on why that was of concern to him.Īs well as offering his opinions on the changes Apple had made to the online advertising sector, the Meta chief also commented on how they had especially affected his company. He admits to having missed the shifting downturns in the economy, as he did earlier this month when he spoke to his staff about companywide layoffs.Īccording to Zuckerberg, his major investments in the metaverse have now been followed by the difficult decision to downsize as a result. Nevertheless, he added that the company’s investment in Reality Labs appears to consist of only 20 percent of the money spent in the portfolio. Zuckerberg has plunged billions of dollars into his company’s Reality Labs division during the past two years, which is responsible for the VR and AR efforts that the company is involved in, as well as changing the name of the company from Facebook to Meta. In the last 12 months, the company’s share price has plummeted by 64 percent on the back of these fears, which has led to thousands of layoffs.
Metaverse as the Top Priorityĭuring his video conference at the New York City DealBook Summit for 2022, where he addressed the crowd via videoconference, the embattled chief executive of Meta attempted to allay fears that he and the company were not focusing enough on their core business while building the metaverse. These were the words he used after appearing in a metaverse interview that took place in which Andrew Ross Sorkin, the founder of DealBook, was recorded talking to him. As far as social media is concerned, Mark Zuckerberg is still looking to expand his company’s activities.
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