The Metaverse Swindler: How Mark Zuckerberg Deceived the World With a Multibillion-Dollar Fantasy

Mark Zuckerberg and his gang are among the hottest headlines of the past few years. From getting hit with the largest fine ever issued under the European Union’s General Data Protection Regulation (close to $1.3 billion) for exporting EU user data to the United States, to falling stock prices, mass layoffs, and ultimately, a failed Metaverse project.

Meta’s dramatic downfall shows that the ambitious and untouchable CEO and Facebook co-founder is in serious trouble. One of his grand projects, the Metaverse – with a capital M – is ready to be laid down to rest in the tech industry’s pet cemetery.

Meta’s Sh*tshow

At the end of 2022, the once trillion-dollar tech giant closed the year in a 70% freefall drop. This made it the worst-performing stock in the entire S&P 500. The company is in serious trouble. And the tricky transition from social networking giant Facebook into the virtual reality world of the Metaverse is taking its toll.

However, to begin understanding what happened with former Facebook and the Metaverse, we can start by naming the main cause that led the big tech firm into its current hole.

The biggest issue wasn’t Mark Zuckerberg’s fool’s bet on the Metaverse. In fact, whichever product Meta decided to bet on next was likely to fail. As the author and writer Ted Gioia pointed out, “to Facebook, the user is always wrong.”

For those in any type of business, it’s a no-brainer knowing that the focus of any company – regardless of its size – should be serving its customers. Facebook – and its affiliates, Instagram and WhatsApp – and now Meta, serve one purpose and only: profits for the apps and people involved. And that’s what’s killing Zuckerberg’s Meta empire.

The False Promise

Zuckerberg’s tunnel vision about making the Metaverse the next big thing lured virtually everyone around him. He claimed the virtual world would be an “expansive and immersive version of the internet.”

The Metaverse quickly ascended to the top of the business world. And so other big companies followed suit, and Walmart, Disney, Nike and Gucci joine

Go to Source to See Full Article
Author: Camila Santiago

Did you like this?
Tip BTC Newswire with Cryptocurrency