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Meta’s metaverse mistake: why Mark Zuckerberg’s big strategic bet is on wobbly legs


A person carrying a Meta Quest Professional interacts in blended actuality with a 3D digital drawing of a skateboard; picture credit score: Meta through Reuters

Synopsis

Some take into account the metaverse to be tech’s subsequent massive factor. Mark Zuckerberg needed to dominate it. So, Meta spent USD10 billion to try to develop and, subsequently, dictate what Zuckerberg calls the “holy grail” and the “way forward for the Web”. However did he err in betting too massive too quickly?

It’s autumn in Silicon Valley. The leaves are falling off not simply the bushes however from Meta’s large goals.The distinction within the inventory value round its final two annual developer conferences, often held in October, is testimony sufficient.2021: Fb renamed itself as Meta, in tune with its ambitions to dominate Metaverse. The corporate inventory traded at USD316.92.2022: The inventory tumbled by 24%, and the corporate is now buying and selling at USD97.74, the bottom

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