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Investors Losing Patience Over Mark Zuckerberg’s Bets On Metaverse: Report

Investors Losing Patience Over Mark Zuckerberg’s Bets On Metaverse: Report

Wall Street is losing patience with Meta CEO Mark Zuckerberg’s huge experimental bets on his Metaverse project, which helped raise the company’s overall expenses by a fifth in the third quarter. Fell 20% and wiped out its market value by $67 billion after the company posted its fourth straight quarterly profit decline. The entity responsible for bringing the metaverse to life – will “grow significantly” over the next year. A meta-shareholder recently expressed concerns about calling the company’s investments “overstated and scary.” and cutting costs “extremely worrying.”

In a post-earnings conference call, Jefferies analyst Brent Thill asked executives, “I think the bottom line for investor sentiment right now is that, at its core, there are too many experimental bets versus proven bets…I think everyone would love to know why you think it’s worth it. For the July-September quarter, losses at Reality Labs jumped to a whopping $3.67 billion from $2.63 billion a year earlier.

Revenue almost halved.” people say, ‘Hey, you spent all that money and produced this, and I don’t think that’s the right way to think about it.

We are doing leadership work that… will eventually bring products to fruition over the next five to ten years at different intervals over different periods. He spoke about the company’s various endeavours, including a recently unveiled mixed and virtual reality. Headphones called Quest Pro are priced at $1500, and a Metaverse social platform where people can express themselves through avatars.

Big gamble

The Metaverse… feels like a big gamble given the economic crisis,” said Paolo Pescatore, an analyst at PP Foresight, adding that the journey ahead would be “long and painful” to get out of their seats to buy a VR headset or even watch 360 videos… The new device still feels like an expensive toy,” he said.QR is up 32% from the end of Q2. In an open letter to Mr. Zuckerberg on Monday, Meta’s shareholder, Altimeter Capital Management, urged Meta to streamline by cutting jobs and investments. The fund proposed that Meta cap annual investments in the Metaverse at $5 billion instead of the current $10 billion.

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