It has been a while since Facebook changed the name of its parent company to Meta, and suffice it to say that things have not been going so well for them since then. Amidst a wider decline in the global economy as well as turmoil within the tech industry, Meta has struggled to find its footing.
With its stock price plummeting and users fleeing from its flagship social media platform en masse, Meta’s emphasis on the metaverse has been called into question. In spite of the fact that this is the case, Meta’s Chief Product Officer Chris Cox seems to think that the metaverse could someday be as ubiquitous as the smartphone.
With all of that having been said and now out of the way, it is important to note that these statements were made at the World Economic Forum in Davos. This reveals that Meta is not planning to scrap its plans anytime soon, but is rather intending to double down on them in the near future.
Cox acknowledged that the metaverse is currently experiencing some growing pains, but he mentioned that improving interconnectedness with other platforms could make it more successful than might have been the case otherwise. He compared it to the internet in that respect, claiming that the world wide web only became truly successful once it became interoperable with various other platforms.
Meta has lost close to $20 billion after constantly investing in Reality Labs, but this doesn’t seem to be having all that much of an impact on the struggling tech corporations short term plans. The company has laid off thousands of workers, but its commitment to this expensive project is not going anywhere.
Reports are showing that Meta’s employees are getting quite frustrated by the focus on the metaverse. That might be an issue because of the fact that this is the sort of thing that could potentially end up alienating top workers from the company. It will be challenging to keep the momentum going, and 2023 will prove to be a crucial litmus test that might determine the future of the company.
Read next: Meta Adds Ease To Its Multiple App Users’ Lives By Shifting Certain Settings Into Its Accounts Center
With its stock price plummeting and users fleeing from its flagship social media platform en masse, Meta’s emphasis on the metaverse has been called into question. In spite of the fact that this is the case, Meta’s Chief Product Officer Chris Cox seems to think that the metaverse could someday be as ubiquitous as the smartphone.
With all of that having been said and now out of the way, it is important to note that these statements were made at the World Economic Forum in Davos. This reveals that Meta is not planning to scrap its plans anytime soon, but is rather intending to double down on them in the near future.
Cox acknowledged that the metaverse is currently experiencing some growing pains, but he mentioned that improving interconnectedness with other platforms could make it more successful than might have been the case otherwise. He compared it to the internet in that respect, claiming that the world wide web only became truly successful once it became interoperable with various other platforms.
Meta has lost close to $20 billion after constantly investing in Reality Labs, but this doesn’t seem to be having all that much of an impact on the struggling tech corporations short term plans. The company has laid off thousands of workers, but its commitment to this expensive project is not going anywhere.
Reports are showing that Meta’s employees are getting quite frustrated by the focus on the metaverse. That might be an issue because of the fact that this is the sort of thing that could potentially end up alienating top workers from the company. It will be challenging to keep the momentum going, and 2023 will prove to be a crucial litmus test that might determine the future of the company.
Read next: Meta Adds Ease To Its Multiple App Users’ Lives By Shifting Certain Settings Into Its Accounts Center
