The metaverse may be filled with whatever Mark Zuckerberg and his acolytes dream up—unicorns and rainbows and, yes, apparently harassment—but in conventional reality, the Meta boss is having a brutal financial year; his net worth has plummeted more than $70 billion, as the company’s stock has dropped 57 percent. As Insider reported, the billionaire has worked to justify the billions of dollars Meta is sinking into the metaverse by declaring that the investments won’t generate much revenue “until at a minimum much later in this decade,” and perhaps farther into the 2030s. Investors are clearly antsy; time will tell if they hold on for the ride. But lucky for Zucky, he has majority voting power in the business and ultimately it’s his ship to steer.
Read it at Insider
