“People will look back a decade from now and talk about the importance of the work being done here.”
That was the rallying cry Metaverse overlord Mark Zuckerberg told investors at the tail end of Meta’s Q3 earnings call, which delivered some staggering figures — most of which make bad reading.
I’ve discussed at length the problems facing his Metaverse dream, but a quick recap:
- a concept that lacks a definition leaving the potential user base confused
- cumbersome entry-point devices that are expensive
- subpar Wii avatars roaming a world devoid of fun and any sort of realism
- a lack of legs (at least for now)
- employees being forced to use it
- and huge societal implications that are difficult to comprehend.
But there are two other, far more pressing problems — money (billions and billions) and time frame (decade/s). And judging by the latest earnings report and the ensuing stock plummet, investors are losing confidence that his Metaverse gamble will pay off, faster than Zuck can spend a buck.