- Mark Zuckerberg shot at people who doubted his metaverse investment.
- He stated that “people are going to look back years from now” and talk about the importance of the project.
- Meta has suffered losses of nearly $20 billion since last year due to its metaverse project. This is more than many countries’ GDP.
Mark Zuckerberg, Meta CEO and founder of Meta, took aim at those who doubted his multi-billion dollars metaverse investment. He stated that “people are going back decades later” to discuss the project’s significance.
Zuckerberg, who a year ago announced that his company would rebrand as Meta and concentrate its investments in the metaverse, has come under fire from the pivot. Advertisers begin to reduce spendingDespite an economic slowdown
While I realize that there are many people who disagree with this investment… He stated this on a quarterly earnings conference with reporters and investors.
“It’s some of our most significant work. “I think people will be able to look back over the past decades and reflect on the importance of this work,” he said.
Meta’s metaverse investments, which it calls “Reality Labs”, have reported losses that are greater than the Many small countries have a high GDP. Reality Labs reported losses of just under $20 billion for the third quarter.
At least one prominent investor in Meta has questioned the direction Zuckerberg has taken with the company’s massive investment.
Brad Gerstner will be the CEO of Altimeter Capital on Monday Publication of an open letterZuckerberg and Meta’s board pleaded with the company to stop its losses related to Reality Labs and to focus on its core profit-generating businesses.
Zuckerberg gave a message to investors who feel uncomfortable: “I believe those who are patient with us and invest with them will end up getting rewarded.”
