Tuesday, February 7, 2023
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Meta CEO Still ‘Long-Term Optimistic’ on Metaverse

Mark Zuckerberg, CEO of Meta Platforms (META), was optimistic about the future of the metaverse over a longer period of time. At the New York Times DealBook Summit on Wednesday, he said that he was still optimistic about the metaverse over the next five to ten years.

In light of this, Zuckerberg acknowledged that in the near future Meta will need “more efficiency and discipline” in its operations since the firm has been compelled to reduce its expenditures due to the state of the macroeconomic environment.

According to Zuckerberg, Meta spends around 80% of its time concentrating on its legacy social media suite of applications. These applications include Instagram, Facebook, and WhatsApp, among others. The remaining time is dedicated to the design and development of hardware and software that are associated with the metaverse.

Research and development of Meta’s many metaverse-related projects are the primary focuses of Meta’s Reality Labs. These projects can be put into one of three main groups: virtual reality, augmented reality, or social platforms.

The billionaire CEO of the firm said that he is unconcerned by the criticism of his company’s bet on the metaverse, stating that the absence of opposition often indicates that a concept is not bold enough. According to Mark Zuckerberg, “scepticism doesn’t upset me all that much.” “There have always been some who question our abilities.” 

Mark Zuckerberg, the CEO of Meta, has invested millions of dollars over the course of the last two years on his immersive metaverse project, which he considers to be a representation of the probable future of digital technology. Ad campaigns for the Meta virtual reality headsets, a complete rebranding of Zuckerberg’s organisation, and an unquestioned optimism about the usefulness and appeal of online life have all come to our attention recently.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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