Zuckerberg also added that Meta plans to hire 10,000 people in the European Union to build a “metaverse.” Zuckerberg added that metaverse is a major investment for the company and plays a vital role for the company going forward. Just last month, Zuckerberg said Meta has committed billions to the metaverse. Zuckerberg said Meta will spend $10 billion to transition from its much-criticized social network and related family of apps and into what Zuckerberg describes as an “embodied internet.” The $10 billion is a drop in bucket considering that Meta netted $29.1 billion in profits on $86 billion in sales last year. We call this the metaverse, and it will touch every product we build.” You can think of the metaverse as a virtual world where millions of people could gather to work, play, and socialize in immersive virtual environments and communicate across shared spaces across different platforms.Īlthough the metaverse is still nascent, all experts agreed that the metaverse, just like standards-based internet, should not be controlled by a single company. While warring factions may one day unify around one metaverse standard, Facebook’s ambition on the other hand is to dominate the metaverse and usher in a defacto standards-based virtual reality world- which is why it’s not a good idea.ĭescribing the new Meta Platform, Zuckerberg said, “The next platform will be even more immersive - an embodied internet where you’re in the experience, not just looking at it. ![]() The metaverse is “a computer-generated universe that computer is drawing onto his goggles and pumping into his earphones,” Stephenson wrote. In the book, Stephenson describes the metaverse as a three-dimensional virtual reality generated by goggles worn by the novel’s hero, Hiro. Tech experts also see the metaverse as the “successor to the mobile internet,” and revolutionary technology with the potential to reshape our lives. Since Facebook announced its name change, the tech world is abuzz with talk of the metaverse, a digital world where the real and virtual worlds converge into a vision of science fiction. The term metaverse, short for “meta-universe,” was originally coined by Neal Stephenson in the dystopian novel “Snow Crash” three decades ago. On the surface, some said the name change is Facebook’s attempt to repair brand damage or a way for the company to redress for its vast ethical transgressions. But others think there is something more sinister at play. During the company’s live-streamed virtual and augmented reality conference, CEO Mark Zuckerberg said “From now on, we’re going to be the metaverse first, not Facebook first.” ![]() Meta’s version of the metaverse intends to expand beyond just Facebook but also span social presence, office work, entertainment, and every aspect of our lives. However, the timing was particularly suspicious considering the name change came on the heels of whistleblower Frances Haugen’s massive exposure of the inner workings at Facebook. On October 28, 2021, Facebook announced it was changing its corporate name to Meta to reflect its focus on the metaverse.
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