Facebook’s Weird and Useless Metaverse Obsessions Have Wall Street Questioning Meta’s Future

Everyone knows that Mark Zuckerberg is going batshit crazy about the Metaverse.

Using his company Meta to create some weird virtual reality world that no one seems to want, understand or care about, Zuckerberg has seen his wealth and company’s stock tank in pursuit of his dream.

Now, Wall Street is starting to question the future of Meta.

Investors were unimpressed by Facebook’s newest reveals, which included, among other things, the launch of avatar legs. It was a stark reminder that Wall Street is not 100% on board yet with Zuckerberg’s vision.

Neil Campling, an analyst who heads research at Mirabaud, summed it up as “desperate.” He explained, “No wonder investors are in despair. Captain Zuckerberg continues to steer the Meta ship towards an unknown path called the Metaverse and is determined to splurge billions and billions of dollars in an endeavor to reinvent itself.”

By the end of this year, Meta’s total spending on the development of Metaverse could total a jaw-dropping $25B – and it’s no wonder that makes investors nervous. The unveiling of legs is somewhat of a relief since, up to now, only the torso up has been an option for users on the virtual reality platform. Campling adds, “So, the greatest development of burning $10 billion cash flow on this endeavor is legs?”

Some on Wall Street appreciate Zuckerberg’s experience and are willing to go on faith a little longer. And who knows, maybe Zuckerberg will be laughing all the way to the top of the “world’s richest” list if things go the way he hopes.