You still haven’t understood the craze of the big tech companies metaverse? Don’t worry, you’re not alone: Even investors are perplexed (to say the least) Halfparent company of Facebook and Instagram.
With a lengthy article published in Medium, Altimeter Capital’s president and CEO, Brad Gerstner, he turned to Mark Zuckerberg with sharp criticism of investments in the metaverse. “People are confused even by the very concept of metaverse itself, they have no idea what it means,” the letter reads. “If the company had limited itself to plans to invest $1 or 2 billion a year in this initiative, this confusion would be less and there would be no problem.” Too bad Meta has decided to bet all his chips on the metaverse. Except two billion.
“Instead you decided to invest 100 billion dollars in an unknown and uncertain future, it is a huge and reckless figure that opens the door to terrifying prospects, even by Silicon Valley standards”.
Brad Gerstner wants Meta back to doing what he does best, which is to continue to focus on social networking and online advertising – which is, after all, “one of the largest and most profitable companies in the world.” Zuckerberg to cut back on staffing and investment in the metaverse.
Source: Lega Nerd