The question pondering on everyone’s mind is whether the Metaverse worth it for Meta and Zuckerberg. The answer is all blurred but the research to find it out is on.
What exactly is Meta?
Meta is one of the world’s most valuable companies. Not only is that but also considered among one of the big five companies of American information technology. Meta is lined with companies like Amazon, Apple, Alphabet and Microsoft.
All the companies are big and fancy firms making profits of billions. Meta is among the American multinational technology which is based in Menlo Park, California. The company owns many social media handles with other services and products such as Facebook, Instagram and also WhatsApp.
When was this company founded?
It is a public company founded on January 4, 2004, almost around 18 years ago in Cambridge, Massachusetts, U.S. the company’s founders are Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes.
Meta has also acquired Oculus, Giphy, Mapillary, Customer, and Precise and they also have a 9.99% stake in Jio Platforms. Meta recently doesn’t gain the upper hand or a return on its investment in the project in return for the sustained funding for the company’s Metaverse efforts in the past month of 2022.
The profits when calculated this September, it was noticed that profits Mark Zuckerberg has significantly dropped and he seems to incur a massive loss of about $71 billion. Which when seen precisely is more than half his previous valuation. Indeed that’s a huge amount of loss incurred for him.
How is Mark Zuckerberg losing $71 Billion?
Mark Zuckerberg losing $71 Billion is a huge matter of discussion because for him every penny counts and to incur such a huge amount of loss is something that could not be ignored or neglected easily.
Mark Zuckerberg saw a huge amount of decrease in his wealth which has knocked him out from the list of top charts with others on the list such as Elon Musk, Jeff Bezos and many more. This knocking down due to the huge loss he has incurred has surely put him in the lower steps with the other billionaires in the league.
He can be seen sliding down the stairs slowly. The loss of $71 Billion shows that Meta and its CEO are actually in deep waters now, making it a very critical moment for the owners of the company. Moreover, all the Metaverse Focus is costing Mark Zuckerberg a huge deal.
Meta has pricked Mark Zuckerberg’s money bag and made him lose billions of dollars in this process. Many experts also believe that the Metaverse development is costing Meta significantly, beginning on its previous shift last October 2021 to the digital world, something which the company has not yet delivered now.
In addition to this many reports and analysts states that Meta is not truly sustainable for the Company. The observation has been done by the ones who look closely at the company’s ventures. Many seem to believe that Mark Zuckerberg present is already failing Meta due to its ambitions and projects, which focus more on losses instead of all the profits earned.