Is Facebook going to die?
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Archived from the IMDb Discussion Forums — Economics, Business, Money, Finance
/.ㅤ — 3 years ago(October 27, 2022 03:46 AM)
The stock is down 60% in 8 months and just crashed 20% in the past couple hours.
No one wants the metaverse:
Meta’s Reality Labs unit, which responsible for developing the virtual reality and related augmented reality technology that underpins the yet-to-be built metaverse, has lost $9.4 billion so far in 2022. Revenue in that business unit dropped nearly 50% year-over-year to $285 million, which Meta chief financial officer Dave Wehner attributed to “lower Quest 2 sales.”
“We do anticipate that Reality Labs operating losses in 2023 will grow significantly year-over-year,” Meta said in a statement. “Beyond 2023, we expect to pace Reality Labs investments such that we can achieve our goal of growing overall company operating income in the long run.”
My password is password. -
Robgoblin — 3 years ago(October 27, 2022 05:25 AM)
This is interesting for sure.
They own some pretty big tech brands like Insta, WhatsApp etc so I’m don’t think they’ll fail completely. But Facebook is def dying, pretty much everyone I know has stopped using it. And it’s not getting that many new users.
The whole metaverse is either way too early, or it’s just doomed to fail. VR has been around for decades but it’s never taken off. And for a good reason, it’s clunky and inconvenient. Half the people get motion sickness and the experience just isn’t that fantastic. I’d go so far as to say it’s niche.
Maybe once they’ve put too much money into it, they’ll have to sell Instagram and others and then there’s a real possibility Meta will go under.
Or it’ll be all the rage and kids be walking around with vr headsets everywhere. Doubt it tho
Thats it, I’m going to clown college -
/. — 3 years ago(October 27, 2022 05:54 AM)
I think the metaverse has a shot. The potential for things to do with it is so big it has appeal to basically everyone. You can watch TV/Movies, play games, go sightseeing, lay on the beach, travel the universe, watch live sports or concerts like you're actually in front row. Once the technology is there and it's cheap enough, everyone is going to want one. That's a good 5-10 years off though, and Meta stock is probably going to keep hemorrhaging for a while.
My password is password -
Robgoblin — 3 years ago(October 27, 2022 06:15 AM)
Big if tho. It’s going to need to transition from crappy Wii graphics to something actually looking real if that’s the thing.
They main problem I have with VR is still how inconvenient it is. Just wearing that thing on your head is not pleasant. Just watching a screen is so much easier, plus you can do things simultaneously. With VR you’re stuck in that particular thing.
Maybe it’ll be amazing some day. But my hunch is that VR it self will never be mainstream or it would have been already.
Either way I’m not buying the stock lol. It’s down 20% in the after market alone… yikes.
Thats it, I’m going to clown college -
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