Facebook's $267 billion stock market collapse is the ultimate proof that Mark Zuckerberg doesn't know what he's doing
All of this negativity can complicate the process of hiring the kind of talent it takes to build an entirely new world, too.Meta is operating in a totally different environment in terms of user engagement, markets, and regulatory scrutiny than it has at any other point in its young life.
When the company made the pivot to mobile in the early 2010s, it did so in part by moving aggressively to acquire, copy, or destroy its competition. It gobbled up existing businesses like Instagram and WhatsApp, products which have helped sustain the company over the past few years.
Back in the day, Zuckerberg could build a product and ask questions later. But Meta has gotten too big to"move fast and break things." It now has to ask permission. For example, Facebook tried to dip its toe into a fast-growing speculative-growth area by trying to launch its own cryptocurrency . Despite the fact that it seems like anyone can create their own stablecoin, Meta's attempts were dashed by regulators, andto a small bank that serves crypto clients.
Zuckerberg bet on a big growth play at exactly the wrong time and now investors are punishing him for it. Meta's market value has dropped by more than $250 billion since its disastrous earnings .Zuckerberg is also living in a world where investors are not going to be as amenable to growth gambles like the metaverse pivot.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Rabbids Invade the Metaverse as The Sandbox Partners With Gaming Giant Ubisoft – Metaverse Bitcoin NewsThe decentralized gaming virtual world project, The Sandbox, announced the company has partnered with the French video game company Ubisoft. Blockchain Metaverse Rabbids
Read more »
To Improve Crypto Gaming, Developers Should Look Back in TimeFor the industry to progress, gaming studios need to look backward to legacy developers. zach_hungate writes
Read more »
Shiba Inu Team Announces Decentraland CompetitorShiba Inu Lands will compete with such projects as The Sandbox, Decentraland and CryptoVoxels
Read more »
Metaverse Adoption May Be Disappointingly Slow | CoinMarketCapGartner estimates that 25% of people will spend at least one hour a day in the metaverse — whether this is for work, to shop, to learn, or for entertainment.
Read more »
Gucci buys virtual land on The Sandbox as part of metaverse experience bidLuxury fashion brand Gucci has bought itself some land on the digital world platform known as The Sandbox.
Read more »
Samsung Debuts on the Decentraland Ethereum MetaverseSamsung has built an entire mini-city on the ethereum based Decentraland metaverse from where they livestreamed their big Samsung Unpacked event showcasing their latest phone and tech. Samsung, the South...
Read more »