The metaverse shit is going to be one of the most absurd incinerations of capital in human history.
i called it early
They lost $4 billion on it this quarter on revenue of $27 billion. Incomprehensible
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Not possible they have 2 tiers of stock he can do whatever he wants
seriously, can go back to 2012 BFI or whenever fb went public, I was very bearish and took a LOT of heat over it, iirc my reasoning at the time was “if their entire future is based on social media platform it’s doomed, myspace was a seemiingly un-beatable titan already, look how easily it fell” and look at FB’s current predicament with tiktok etc. FB’s strategy thus far has been to buy any competitors that threatened it, but it can’t do that with tiktok, so they try to aggressively branch into this new area, here we are.
my social platform reasoning was easy and quite predictable - young people are notoriously fickle and hard to predict, some anti social boomer like zuck was never gonna be able to keep up with them.
From a pure business perspective they should fire like 95% of their employees and just suck as much cash out of their user base as they can while slowly dying. They could probably make something like a trillion to two trillion dollars doing this over the next 15-20 years.
their burn is due to them offering utterly insane compensation packages and a culture that is designed to hoard talent - my good friend and old mentor works there, and I went through some phases of the interview process to learn more (I would never work there unless it was purely to cause chaos and sabotage) - it seriously seems like an absolutely incredible place to work as an engineer and is well run. but when PM’s are making 450 TC like right out the gate, uh, that can’t possibly be sustainable man.
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There’s a good chance that Zuck’s massive ego is forcing everyone to believe their own bullshit - just look at their mission statement “to give people the power to share and make the world more open and connected”. This is obviously nonsense but if you are a billionaire you will start to believe this BS if you say it over and over again because everyone in every room they’re in claps enthusiastically when you say the magic words. There’s no way that an egomaniac who personally has more money than can ever spend is going to decide to responsibly milk the company for maximum shareholder value. If there’s no way for the Board to actually force him out, he’s going to happily spend his excess money trying to fulfill his own egomaniacal goals.
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I call this the “payphone strategy”, and it’s the correct play way more than it is followed… which is almost never.
I worked for a company that ran its payphone business like this. They knew it was going to zero, so they ran it as a cash cow that shrank by 15% every year.
Other companies in a similar position tried to make payphones the local internet hub and dumb shit like that.
Of course. The payphone strategy is easier to follow when it’s a fraction of your company not the whole thing.
Down -73% since 09/21… Jesus Christ…
Let’s say you give a small but passionate startup $20 Billion to develop a VR system. I guarantee they have a better product that whatever is happening at Meta.
Did Everquest have motherfucking goggles bro?
After making a furry joke in AQ’s chat thread, it occurs to me that the use case for Metaverse really will be cybersex and people having sex as something they’re not or with something that’s not real.
Isn’t the furry community the largest group of people who actually use Second Life?
The Quest device is great (I want to keep calling it Oculus - I can’t get myself to call it Meta Quest). We’ve had the Go, Quest, and Quest 2. My son loves it, plays it all the time, and has even taught himself the beginning stages of creating games for it. It’s awesome.
This whole metaverse thing, though, is what is dumb. They should just stick to making Quest into the next great video game system with some niche applications for business/industry (maybe architecture or engineering or something).
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Didn’t Internet porn basically spur a lot of the advancements for online streaming?
Yea Oculus is legitimately cool and has some great capabilities. Metaworld or whatever zuck is doing is not, and will probably drag down the overall appeal and adoption of Oculus if they keep pushing out this garbage.
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Are furries the trailblazers of social media tech?
https://twitter.com/elfsternberg/status/1586763987336646657?s=20&t=8DzvzoxtkR20gMvKQNIcPQ
https://twitter.com/Benaclejames/status/1586453891498926080?s=20&t=8DzvzoxtkR20gMvKQNIcPQ
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This is some Pied Piper shit!
Might be using middle out compression.
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