Mark Zuckerberg remains optimistic about the metaverse

Mark Zuckerberg remains optimistic about the long-term idea of the metaverse and the benefits it can offer. Meta reported losses of $3.67 billion in the third quarter of 2022 alone on its metaverse research.

Last Wednesday New York Times DealBook Summit in New York City. The DealBook Summit is a gathering where various personalities and companies from business, culture and politics come together to present their ideas on the present and future of interesting topics such as virtual reality, the economy or Web3, among others.

One of the personalities who took the stage was the very same Mark Zuckerberg, CEO of Meta Platforms (META). During his presentation Zuckerberg touched on several topics related to Meta and social networks such as Instagram or Facebook, but the most recurring theme was the metaverse.

Meta is developing its own metaverse known as the Reality Labsan initiative started directly by Zuckerberg, but which does not seem to convince investors. The main reason for investors’ dissatisfaction is the large amount of capital invested in Reality Labs, with no plan to make a short-term profit.. Through Meta’s research division, $3.67 billion was burned in the third quarter of this 2022 alone, a total of 9.44 billion in all of 2022.

Meta’s plan for its metaverse presents a long-term structure, and Mark Zuckerberg continues to support this idea.. Zuckerberg said at the summit that he is optimistic about the results of Reality Labs in the future. five to ten year plan. “The way we communicate is becoming richer and more engaging.” the Meta CEO said in a digital interview.

Zuckerberg is convinced of the long-term results of the project and Meta, but he also expressed caution and concern about the short-term results. The programmer admitted that Meta must stick to solutions that provide greater efficiency and discipline to achieve short-term results.. Current macroeconomic problems have forced a giant like Meta to cut costs.

Earlier this month, it emerged that the group’s Meta Platforms was forced to lay off 11,000 of its workers13% of the total. The layoffs did not affect all sectors, but were mainly concentrated in the following sectors Family of Applications (FoA) and Reality Laboratories.two areas directly related to Web3.

During the interview, Zuckerberg also revealed the percentage of effort Meta divides in terms of workload for each sector. Meta spends 80 percent of its resources on the development of its traditional social network applications.such as Instagram, Facebook or WhatsApp. The remaining 20 percent focuses on hardware and software development and projects related to the metaverse..

In conclusion, Zuckerberg made it clear that he is aware of the criticism that has been leveled at him for devoting so much media to the Metaverse field. This does not seem to be a problem for him, and he clarified that lack of rejection usually means that an idea is not ambitious enough.

Continue reading as Kraken was forced to lay off 30% of its staff.could be interesting.