Mark Zuckerberg’s once-bustling metaverse ambitions are coming to a halt. The company is slashing spending on its virtual space efforts and redirecting funds towards artificial intelligence (AI) and wearable divisions.
Just four years ago, Zuckerberg envisioned a future where one billion people would be hanging out in virtual spaces by 2031. He even changed the company’s name from Facebook to Meta to emphasize this vision. However, investors didn’t share his enthusiasm, and he’s now stuck with a company that’s made significant investments in a concept that hasn’t materialized.
Zuckerberg has also tried to cash in on NFTs, but those plans were short-lived after the market crashed. He recently spoke about exploring crypto, but it seems AI and wearables are the new focus. The plan is to spend $600 billion on AI over the next three years, which raises questions about how this will benefit users.
This pattern of investing in futuristic ideas that don’t pan out has become a familiar theme for Zuckerberg. Despite his repeated failures, he’s still able to attract investors and generate significant returns. This can be seen as a form of insanity, where people continue to invest in his ideas despite a lack of success. It’s a reminder that the pursuit of innovation and progress can often lead to reckless decision-making.
Source: https://aftermath.site/mark-zuckerberg-meta-ai-metaverse