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Metaverse is dead after $80 Billion poured into it
- Thread starter Wastelander92
- Start date
spookyfish
Gold Member
We are in the stupidest timeline confirmed.
IntentionalPun
Ask me about my wife's perfect butthole
Really feels like Zuck would have been ousted if he hadn't maintained 60% control over voting shares. Just a wild trajectory.
They still make an insane amount of money but what a fucking goober lol
They still make an insane amount of money but what a fucking goober lol
Wildebeest
Member
Snow Crash was mediocre book and not worth 80 billion dollars in fan fiction. Just goes to prove that its true how money doesn't buy taste.
Angry_Megalodon
Member
There were people saying this was "the future" and calling the ones who disagreed "boomers".
Will Meta get rebranded or left as is?
Will Meta get rebranded or left as is?
Donald mac Ronald
Member
So what exactly was the metaverse, did it ever actually launch .
It just sounded like that shitty PS3 home thing.
It just sounded like that shitty PS3 home thing.
John Bilbo
Member
The success would have come at $100B
DeepEnigma
Gold Member
Washing that money.
BennyBlanco
aka IMurRIVAL69
That is an absurd amount of money to flush down the toilet. I hope they continue with VR.
Wildebeest
Member
Metaverse is video conferencing that you use with your dick and balls fully out and on display. Nobody will know. Ho ho ho.
HRK69
Member
Nothing counts as clickbait when it's about a company blowing through $80 billion
IntentionalPun
Ask me about my wife's perfect butthole
And what else does Meta have that makes up their "metaverse"? Wasn't it basically the Quest VR app?
diffusionx
Gold Member
Home was way better
DonkeyPunchJr
World’s Biggest Weeb
That's like 320 Concords
bitbydeath
Member
If AI keeps burning money then you best believe it's next.
Wildebeest
Member
The ten trillion market wipeout is going to make tossing 80 billion in a black hole look like a wise investment.
RiccochetJ
Gold Member
Wonder if they're rename the company again. Maybe to a stupid AI catchphrase.
Dirk Benedict
Gold Member
They should remove Zuk from the board. He has no vision and is a clear drag on the company.
IntentionalPun
Ask me about my wife's perfect butthole
He'd have to remove himself. He controls somewhere between 50 and 60% of the voting shared despite owning ~15% of the company.
Dirk Benedict
Gold Member
I'm not going to pretend to know how to remove him, but he should do the responsible thing and step down. 80 billion is money that many countries can't even touch, GDP-wise.
This guy is irresponsibility running amok.
adamsapple
Or is it just one of Phil's balls in my throat?
I still don't know exactly what the fuck this metaverse was .. was it like playstation home?
Why did it cost $80 billion if that's the case?
Why did it cost $80 billion if that's the case?
Romulus
Member
Dr Bass
Gold Member
Of course people were saying it ... why do you think Facebook changed its name to Meta? Epic and Sweeney were in on that belief too.
I think, like a lot of things, it was pretty obvious to see that no ... no it was not the future, and no one wanted it.
IntentionalPun
Ask me about my wife's perfect butthole
It's a huge umbrella term but the quintessential idea is just a virtual world where typical "Real world" things are done in VR.
So kind of like Playstation Home but instead of just game lobbies there might be a Best Buy built next to the COD Game Lobby because they both paid for prime placement on the best virtual "Street."
analog_future
Resident Crybaby
fucking imbeciles running this god damn planet
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Romulus
Member
Metaverse is not meta quest. It's was an app within it.
I think people are using this as an opportunity to jump on the "vr is dead" thing again.
IntentionalPun
Ask me about my wife's perfect butthole
No they are referring to Tim Sweney fully believing the metaverse was the future, not VR.
Fortnite is a "metaverse" in his mind though, but he eventually sees Fortnite players doing their online shopping or something in the "game world."
Epic's Tim Sweeney Says Metaverse A 'Multitrillion-Dollar' Opportunity
The Chief Executive Officer of Epic Games sees the “metaverse” as a potentially “multitrillion-dollar part of the world economy.” Tim Sweeney’s Epic Games is, of course, the company behind the global phenomenon that is Fortnite and the Unreal toolset responsible for making it. Sweeney and Meta...
www.uploadvr.com
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ZehDon
Member
If memory serves, this cost houses their reality labs projects, which includes their Meta Quest headsets and their XR glasses. Not sure if their Oculus purchase is included, but I wouldn't be surprised if they squeezed it in via corporate accounting. They burned a fortune getting VR standards and hardware in place because it's crazy complicated and the people needed to get it right are expensive. Carmack, Abrash; literally the smartest people on the planet. On the software side, though, I'm not actually sure - looked like money laundering to me, because the shit they put out sucked and looked cheap as fuck.
FullMetalx117
Member
People need something to do and they need to get paid. Good on Meta for pursuing and employees the many that worked on this
analog_future
Resident Crybaby
$80 billion dollars could've solved world hunger several times over
kruis
Exposing the sinister cartel of retailers who allow companies to pay for advertising space.
It feels like the CEO of the biggest companies on earth have no idea how much 1 billion dollar is in the real world, let alone 80 billion dollar. It's all fantasy money to them.
Think of the biggest building projects on earth, that take tens of thousands of people to work together and years to build, that bring prosperity to millions of people and then find that stupid IT startups built on the dumbest ideas that didn't make a penny profit in their entire three year existence are somehow more valuable. It doesn't make a lick of sense that both these worlds exist at the same time.
Think of the biggest building projects on earth, that take tens of thousands of people to work together and years to build, that bring prosperity to millions of people and then find that stupid IT startups built on the dumbest ideas that didn't make a penny profit in their entire three year existence are somehow more valuable. It doesn't make a lick of sense that both these worlds exist at the same time.
"I got me some prime space on Metaverse Main street paid top dollar mmmmhmmmm"A couple years ago someone was telling me they were investing money into digital spaces and I'm like 85% sure he was saying the Facebook metaverse.
I told him that sounds crazy and he told me I'm gonna miss out. I don't think I missed out
StreetsofBeige
Member
What a waste of money.
Not sure if that means $80B in losses, or that amount should be reduced by whatever sales they got from VR stuff to counter, but at one point for sure the losses I remember were at $50B alone.
Doesnt matter the exact losses, but right from the beginning most people could tell VR was a niche gaming thing, skewing hard on PC vs PSVR.
But in Meta's quest for expanding beyond Facebook and Instagram and Whatsapp, they were hoping people putting on VR goggles and glasses it'd convert them into higher value techies. So instead of just texting people or sending someone a social media message, Zuck thought people would be trying to interact with them like it's Second Life but wearing VR gear.
Everyone can see it'll never catch on no matter how much money and new gear were made for it.
Not sure if that means $80B in losses, or that amount should be reduced by whatever sales they got from VR stuff to counter, but at one point for sure the losses I remember were at $50B alone.
Doesnt matter the exact losses, but right from the beginning most people could tell VR was a niche gaming thing, skewing hard on PC vs PSVR.
But in Meta's quest for expanding beyond Facebook and Instagram and Whatsapp, they were hoping people putting on VR goggles and glasses it'd convert them into higher value techies. So instead of just texting people or sending someone a social media message, Zuck thought people would be trying to interact with them like it's Second Life but wearing VR gear.
Everyone can see it'll never catch on no matter how much money and new gear were made for it.
Dirk Benedict
Gold Member
Not even close. PS HOME had some amount of potential, Metaverse never had potential. It was some second life looking bullshit that looked soulless and generic.
I actually used to chill out in HOME, and chat with my ex GF. It was a decent experience.
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Trogdor1123
Member
Does this mean the end of cheap, but good, vr headsets?
willothedog
Member
a mere third of Zucks personal wealth.
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