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Updated:05/28/2022 02:38h
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The future of the Internet goes through the metaverse. Or at least that’s what you think Mark Zuckerberg. The father of Facebookwho even changed his company name to Meta To show his commitment to building this new virtual world, he has stated in a talk with investors that his plans will cause his technology emporium to lose “significant” amounts of money over the next five years, according to ‘Bloomberg’.
Obviously, for the metaverse -of which at the moment we do not even have the foundations- to crystallize, the company will have to invest large amounts of money. And, furthermore, in the medium term, completely lost. During 2021 alone, the ‘works’ of the virtual world cost the company losses of more than 10,000 million dollars.
In the first quarter of 2022 alone, the hole in the brand-new star business segment swallowed another 3,000 million. And this is expected to continue for years to come.
Currently, the company is focused on the development of Virtual Reality and Augmented Reality viewers, technologies that promise to be key for the company to develop truly immersive metaverse experiences. According to ‘The Information’, the company is currently working on four devices of this type that should arrive before the end of 2024. In addition, the company intends to make them available to as many users as possible.
“We want to make hardware as affordable as possible for everyone and make sure the digital economy grows,” Zuckerberg explained to investors in this regard.
Less money, fewer employees
Meta already reported a few weeks ago that it had plans to slow down some of its investments due to the losses that the metaverse was causing. Andrew Bosworth, the company’s chief technology officer, said in conversation with workers that “the (Virtual Reality) division could no longer afford to do some projects and would have to postpone others.”
It should be remembered that the technology company lost practically half of its stock market value in early 2022 after it shared with investors that, for the first time in its history, Facebook was beginning to lose users. The company also thinks slow down the pace of hiring. In 2021, it signed 13,000 new employees for the Virtual Reality division. To these were added another 6,000 in the first quarter of this year.
Zuckerberg, however, remains clear that the future of the company lies in the construction of the metaverse. However, the drop in profits forces us to rethink the construction of a new virtual world that, to date and, at least, in the medium term, will continue to generate losses of billions.
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