Meta CEO Mark Zuckerberg is convinced that the future of society is the metaverse , even if it means big losses for the company’s coffers.
The founder of Facebook pointed out in a meeting with shareholders that the creation of the metaverse will imply “significant losses” between the next 3 and 5 years.
This is also broken down because the products that Meta is creating for this type of connection in a totally immersive way virtually , will not be available for another 10 or 15 years.
“We want to make hardware as affordable as possible for everyone and make sure the digital economy grows,” Zuckerberg told shareholders, Bloomberg reported.
Zuckerberg’s metaverse
Mark Zuckerberg ‘s idea is to generate a virtual life through the metaverse, where, thanks to virtual and augmented reality glasses , we can connect with our friends, family or colleagues, to work, study or just have fun .
In 2021 alone, Meta spent $10 billion on designing their metaverse. It has 10,000 employees working on Zuckerberg’s vision and wants to hire an additional 10,000 to work on the project.
Eventually, the metaverse would generate revenue by becoming a platform for creators and businesses to sell virtual goods and services.
internal schism
At the meeting with investors, 12 proposals from shareholders were rejected. One called for Meta to commission a report and hold a shareholder vote on whether the “continued implementation” of the metaverse was “prudent and appropriate”.
Former and current Facebook employees told Insider in April that Zuckerberg is interested in little except the metaverse, but lacks a cohesive strategy for the project that considers the future of the Internet.