Meta’s attempt to create a virtual reality playground known as Metaverse is going to hell.
But for some reason, Meta’s founder Mark Zuckerberg seems more determined than ever to keep the dream alive.
As investors get nervous, Meta stocks tank, and Zuckerberg’s wealth fades, the question “When will enough be enough?” has many starting to wonder about Zuckerberg’s single-mindedness.
One expert has suggested that Meta may have poured as much as $25B into the creation of Metaverse by the end of this year, and the platform only has around 200K monthly users – with most virtual worlds seeing fewer than 50 users each.
So why is Zuckerberg still laser-focused on something that seems like a huge flop? It could be that he’s gone too far to turn back now.
Unfortunately for Zuckerberg, the average human doesn’t have Metaverse-specific virtual reality capabilities or time to spend in a virtual world. Yet. Zuckerberg calls it “the successor to the mobile internet,” but no one else seems quite sure what it is, which can be a severe barrier to bringing in customers.
Perhaps Zuck’s ahead of his time, and it’ll all pay off. But for now, it seems like bad business.