June 27, 2022 · less than 3 min read
The Zuck has an optimistic vision for the future.
It’s in the name
You might expect it from a business called Meta, but it seems that Zuckerberg and co are really all-in on the metaverse. In a chat with Jim Cramer, Zuckerberg said he foresaw a billion users taking to the metaverse, with each spending a few hundred dollars. For that reason, he sees a huge part of Meta’s business in the latter part of the decade being oriented around the virtual.
He said, “We hope to basically get to around a billion people in the metaverse doing hundreds of dollars of commerce, each buying digital goods, digital content, different things to express themselves”. Plenty to look forward to then.
All on the same page?
But maybe someone should look to get the investors onside. Facebook has been hit pretty hard by the tech selloff this year and has seen its market capitalization drop by about a half. Turbulent market conditions have raised the risk level just a little bit, particularly as Facebook is looking to transform itself into a metaverse-first firm.
So, will the rebrand go as smoothly as Zuckerberg seems to believe it will? It’s still too early to read the fortunes of the metaverse, but one thing’s for sure – Zuckerberg won’t rest until he’s at the forefront of the next wave of digital content and media.
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