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Meta CEO is still “long-term optimistic” about the Metaverse

On a longer, “five-to-ten-year horizon,” according to Mark Zuckerberg, CEO of Meta Platforms (META), he is still optimistic about the metaverse. He made this statement on Wednesday at the New York Times DealBook Summit in New York City.

In a virtual interview, Facebook CEO Mark Zuckerberg reiterated his company’s bet on a future dominated by virtual and augmented reality, saying, “The way we communicate gets richer and more immersive.” The business has under criticism for incurring losses of billions of dollars while expanding its metaverse.

However, due of macroeconomic difficulties that have compelled the business to cut back on spending, Zuckerberg said that Meta would need to operate with “greater efficiency and discipline” in the foreseeable future.

Facebook, Instagram, WhatsApp, and other legacy social media platforms are where Meta spends 80% of its time, according to Zuckerberg. The remaining time is used to create metaverse-related hardware and software.

Virtual reality, augmented reality, and social platforms are the three main categories of projects that Meta’s Reality Labs focuses on researching and developing for the metaverse.

The multibillionaire CEO claimed he is unconcerned about those who disagree with his company’s wager on the metaverse, asserting that a lack of opposition usually indicates that a concept is not bold enough. I’m not very bothered by skepticism, remarked Zuckerberg. “We’ve always had our share of skeptics.”

Written by Grace Owell

Grace Owell is an expert freelance writer from Texas, United States of America. Her expertise measures solely on personal finance and health articles. She currently writes for newsway.com.ng

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