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Meta will grow to billions of people spending hundreds, Zuckerberg says

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Meta CEO Mark Zuckerberg recently said CNBC that he hoped Meta would reach the billions of people who spend hundreds of dollars each to express themselves or beautify their surroundings.

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He said:

“We hope that about a billion people in the metaverse will trade for hundreds of dollars, everyone will buy digital goods, digital content, various things for self-expression, whether it is clothes for their avatar or various digital goods for their virtual home. or things to decorate your virtual conference room, utilities to be more productive in virtual and augmented reality and in the entire metaverse as a whole.

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According to Zuckerberg, Meta is able to create a sense of presence and presence together, unlike the company’s other social platforms such as Facebook and Instagram. Participants can make eye contact, which is difficult to achieve in video calls or voice chats.

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All of these settings come together to provide a realistic presence experience. Extending that experience and evolving Meta to make it even more exciting will be the company’s main goal over the next ten years, Zuckerberg said.

Zuckerberg is optimistic

Meta admitted have financial difficulties earlier this month. The company’s chief financial officer, David Wehner, explained that spending should be cut to $87 billion and $92 billion this year. Meta’s spending since 2021 has been between $90 billion and $95 billion. The company said they will be slowing the pace of hiring among other cost cuts to cut costs.

A few days after this announcement, the public blockchain network host Difinity Foundation sued Meta for allegedly using the Difinity logo. The Foundation has stated that the use of the Meta logo could damage its reputation.

Despite these issues, Zuckerberg is very optimistic about Meta’s growth. He noted that the metaverse industry is slowly evolving and that Meta is already doing well.

He said:

“I was very pleased with how everything went. It exceeded my expectations. But I still think it will take some time for it to reach the scale of a few hundred million or even billions of people in the metaverse, simply because it takes some time.

So this is the north star. I think we’ll get there. But, you know, other services that we’re launching today on a slightly larger scale.”

Actions for the near future

Zuckerberg acknowledged that the company needed to release a suite of hardware and software to grow into a billion-dollar platform.

To do this, despite the company’s financial problems, Meta will soon make a significant long-term investment in research to achieve this. The research will focus on developing the necessary tools to help Meta grow.

The company is already taking concrete steps towards its vision. On May 10, 2022, the company announced its plans to launch a payment platform by filing trademark applications for “Meta Pay”.





Credit : cryptoslate.com

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