Yes, there’s a crisis in the tech industry. But Apple is down just 8%, Google is down 40%, Amazon is down 45%, and Meta is down a whooping 73%. Meta started tanking when the Metaverse was announced, way before the crisis. It’s not a coincidence. There is no shame in admitting you were wrong and scrapping a failed project for another. Companies do that all the time. Zuckerberg is insisting on a failed project because of his ego. Now thousands of employees will be laid off because of this bad management decision. He would rather fire them rather than scrap Metaverse. At the end of the day, people won’t spend hundreds of dollars on 3D goggles that allow them to have work meetings as a cartoonish avatar. Nobody wants that. This is not a healthy alternative to real human interactions, and if he doesn’t understand that - something is very wrong with him. He’s sinking the company over this nonsense. #Meta #Metaverse
Its his company to sink.
Those employees were hired to build the metaverse. If they pivot a lot of them would probably be let go as well
Because in the event of a pandemic in the future, the metaverse might actually be the next big thing. Morbid prediction.. But that's the job of the CEO. To look ahead.
His job is to execute and he is doing a piss poor job of getting a decent metaverse out to consumers.
Meta will make the next COVID?
This is how lot of employees feel :-(
Meta tanked because of apples privacy, not bc of metaverse
Apple privacy plus TikTok
Y’all are confusing probabilities with expected value. This is a strictly positive EV move, even if it may not be optimal.
Pls elaborate
High risk, high reward.