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I hope taking down, editing, and re-uploading the video was not too hard. Props to you for doing it, and sorry for being part of those that pushed you to it. Have a 2nd view from me as collateral
The fact that Mark wants "1 billion people to be doing commerce in his metaverse" says it all. He doesn't want this because he thinks it will be beneficial to people, he wants it because he wants a huge commerce market that he exclusively controls.
this, i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
VR gaming is actually really fun... But the thing is, they don't care about that market anymore. "Thanks for being the early adopters... We're gonna focus not on games and experiences for you but trying to get you to do all your business in the metaverse". The tech for VR and audience of tens of millions is already there. It's amazing how badly Meta keeps squandering this.
they are idiots I use everyday Microsoft Teams for web-meetings and never even use my webcam. The idea to use a VR headset in a business is laughable. Why would I want to see a moving avatar in 3D of another person? After 3minutes introduction in a meeting you will star on some form of document (excel, graphics, etc) anyhow.
I feel like the biggest problem with VR right now IS a lack of library. I've got about seven games on my VR and they're all very small and easy to beat. There's only a handful of large titles, even with Steam publishing VR games.
Yup...they don't seem to understand that most people don't care about VR for working or for their metaverse BS. The vast majority wants VR for gaming and the main thing in the way of VR adoption right now is the lack of software content. Had they focus their effort on accessibility and quality content, they might have actually turned a profit.
@@Laff700 I think they meant the lively hoods of people aren't being affected that much from Meta losing money (but then again it's not like they filled for bankruptcy yet)
@@Laff700 I mean, if a startup lost thousands, they’d have to shut down. Meta can lose BILLIONS and not be affected, in fact, they can just ruin other people’s lives and lay a shitload of people off instead of eating their losses!
I love watching AAA companies and CEOs learn that they can't force people to use their product if they don't actually put in the work to make it good not a cash grab lol
Sometimes it feels like it's only in Big Tech you can lose more money than normal people will ever see in a thousand lifetimes and play it off like it's no big thing and act like you're winning big.
At the rate they're losing money i think Mark would have better luck starting a real physical nation with it's own real market for him to tax as the ruler
The limitless potential of what VR could be. A place where you can be anyone or anything... And humans tried to make it into an exclusive country club where you bring your social status from the outside. It's like... Zuck, your intended demographic doesn't *need* to escape! They have private parties, beachfront property and jets right now in this world. Which they own.
That's the thing with companies like this; once they reach a certain level of success, they become so disconnected from reality that they think they can simply impose their will on reality and that the world must then follow suit. And then of course it's the target market's fault for the failure of the product. The drop-off numbers of usage and how you describe the metavoerse reminds me of something a former coworker said about their job, "They should be looking into why people are leaving instead of looking for people who will stay".
That phenomenon you described at the end is what I call “Corporate Survivorship Bias”. In the short term, it’s easier to focus on keeping your customers than it is to persuade them to come back.
lol EXACTLY, my last job usually made 25-35 mil a year, owner had 2 mercedes SUV and a porsche panamera and constantly leased out new porches, president and VP both owned a BMW and constantly leased out mercedes and the VP would buy his kid a new mercedes everytime he crashed it(5 times by the time i quit)..... it's usually 100-120 degrees inside the building, working with most kinds of acid cyanide and worse doing electroplating(putting the gold/silver etc on jewelry/aerospace parts etc, DEMANDING people come in on the weekends or lose their job, paying MINIMUM WAGE, making people go 3-5 yrs for a 10 cent raise(in 2019 i finally got my first raise after 3 yrs for 10 cents i almost slapped the VP), people working there for 18 yrs making like 19 an hour still or less, vice president of operations was a real MFer constantly yelling and screaming at people, they FINALLY got a really good person working on the barrel line, he'd been let go by his last job making $25 an hour, this company wanted to hire him for $15, he's like WTF at least meet me half way??? they fired him after the first month because he wouldn't let it go, within like 2 days he was already working somewhere else making 25 again... he actually did good work and didn't screw stuff up constantly, stayed late, showed up early.... A+ employee they fired because he wouldn't stop asking for what he was worth and was previously paid because then he would've been making more than 20+ yr managers who weren't even making $20 an hour..... and then they wonder why they've had "looking for platers" ads in news papers and online for nearly 10 yrs now and can never get enough people or solid people that STAY and don't leave within a few months... HMMMM MAYBE DON'T TREAT THEM LIKE DIRT AND PAY THEM REASONABLY WHEN ITS SUCH A DANGEROUS SHITTY JOB!!?!?!?!? maddd people got taken out in ambulances cause the fumes built up because they didn't wanna have the doors open during the summer and between the 120 degree heat and noxious fumes people would pass out or get wicked sick, place was awful.
Personally, I think it's not to do with a level of success, but with the kinds of people said success attracts. This sort of thing happens when your company has too many money people and not enough (insert business here) people.
it's a combination of what you described and also shareholders applying pressure. most of these CEOs are beholden to their investors, and in Meta's case the main issue was that they lost large market shares of their main driver of revenue; advertisements. from what it seems like, they kind of threw this metaverse thing on the wall and hoped it would stick but it just doesn't check out at all.
What gets me is that in every marketing seminar I have attended, they still insist that the Metaverse is the future. The urge to not cringe at older marketing executives who clearly doesn’t listen to their younger employees is really hard. I still remember how one exec claims that Gen Z is totally into Metaverse and we all tried not to laugh.
I openly laugh at and mock these people... I'm not allowed in the main room during my employers quarterly meeting anymore.... I have to go to a satellite room and watch it on a TV 😂
@@ironboy3245 both stadia and metaverse died even before arrival, after all they were so bad even in the trailers/concepts that they died before they even got out
I won't celebrate metas demise until it is actually done and gone. People doing so right now are no different from the shareholders who kill companies because they only care about quarterly results. Zucc is betting on long-term plan which may or may not be counter productive in relation to quarterly profits. The company is doing poorly now but he believes these losses are worth it (or will be worth it) because he continues to double down. Please correct me if I'm wrong.
@@yanmew you're on point, but zucc doesn't realize that the customer gets the final say on that long term plan. If the customer doesn't like his product, well he should fix it, but it's clear he doesn't want to.
@@ironboy3245 Stadia actually had SOME Optimism. Sure it crashed and burned almost fucking IMMEDIATELY but it wasn't anywhere near the level of 'This is gonna fail' expectations that Metaverse has. I mean I kinda knew it had too many points of failure and then on top of that, John Carmack (who was on the project MAINLY to see VR be far more of a reality than it is now) leaving the fucking project is what we call 'The Beginning of The End' because he was their main software guy...Yeah...
imagine being an top engineer like Carmack that likes to squeeze every little thing out of cpu cycles to be as efficient as possible and then witnessing wasteful spendings and efforts around you. that gets to you eventually.
Interest rates will go down to zero at some point, but for now, Meta is operating under the assumption that debt is free or cheap. Hope it costs them dearly.
A recent Zoom meeting with family members reminded me of just how much lag one can experience just doing video chat in the same state. Meta expects that I'm going to conduct a significant portion of my life within a process that is like that, only far more exploitative, expensive, and cumbersome. The question is not "How is that going to work?", but rather, "How has it gone this long without anyone with the power to stop it realizing that it will not and *cannot* work?"
I personally don't find the idea appealing, but I remember one of Zuck's reasoning for the look-alike avatars was to replace video calls with 3D models in order for it not to lag so much
VR Chat, Chillout VR, Neos, and various other companies have already managed to make it work. Wild that Meta have spent billions and have very little to show.
Can you imagine being a Dev or coder for metaverse, knowing you're struggling to bring in 100,000 players, meanwhile Zuckerberg is hoping to bring in a billion in the next few years😂
Mark's got those ninja snipers with a fucking laser trained on the head of every employee while he goes "you're making this thing work, or i'm going to make your brain stop working"
The Metaverse is what happens when people with too much money aren't told "no". Meta is the author of its own demise, the signatory to its own death warrant.
@@Kono194 It's time where you have to physically force someone no. Rip out the servers, burn the place to the ground, ANYTHING to get a company to actually pause and think hard for hours, and actually do what is right for the world and stop the project.
Even stuff like fortnight and roblox could count as one. They should have known their particular attempt would fail as Sony tried something similar to what they trying to do back on the PS3 called Playstation Home. Nobody wants to socialize in a corporate sterile version of real life when they can do the same useing normal communication methods or something more fun.
To be fair, second life, while amazing and successful, has a very shady economical system. It became a giant supermarket full of stolen art. VRchat *was* totally open and free... Now it become more and more shady and they add more and more paying things. It's full of rape/abuse complain in addition. So yeah... Not the best examples. Even if Metaverse is on an other level of evilness. I think it's very hard to make a virtual world with money without being as corrupted as the real one.
Because for all the PR lipservice about being for social justice they didn’t just push that money to aid parts of the world world where people are living on less than a dollar a day and cannot get clean water…
Since the last coverage on Meta showing how badly they're doing on this whole VR front, I've been seeing more and more public ads for Meta but none of them really convey what the actual product is - it's more of a concept of...online-iness, future-y and that. I think that's the problem with Meta's vision for the Metaverse, they don't know what it is they need / want it to be other than profitable. So they're just going to pump money into it and hope that eventually they'll either figure out whether they're making a professional office tool, a gaming platform with NFT integration in it, an exercise tool similar to the Wii or all of the at once.
Yeah it's like what Yong said, it is an MMO without anything that makes up an MMO. Hell, failed online services like Babylon's Fall offer actual content than this "product," Meta is just a game engine with no use IMO.
@@EJ_Red They know that the future has something to do with some of this technology, they don't know what it is but they want to capitalise on it when we get there. They're trying to future proof themselves as a business, but they're not sure what to ready themselves for or what with.
Like NFTs and live services, the metaverse is a product built to meet shareholder demand. The issue with this is that shareholders don't buy the product - end users do. I've been alive a long while, yet I've never seen quite this much bad business being conducted at one time. It's absolutely crazy.
@@samjohnson8588 But I don't get what IP they're trying to get out of it. Nothing Horizon Worlds has done is groundbreaking as far as I can tell. They have nothing to profit off of if somehow the concept takes off.
Imagine all the places that money *could* have been spent. Research grants, development projects, charities, economic programs, making videogames that *aren't* pretending that they're not a decade-late tech demo, the list just goes on and on.
this, i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
@@Hauntaku This. There are a thousand different KINDS of cancer. Dedicate 1 million to researching each. Bam! You spent 1 billion, it‘s probably tax deductible, AND you actually did something to actually progress the human species.
@@Hauntaku I don't wanna be *that guy*, but I have significant doubts a "cure" can ever be found. At best, more consistent removal procedures, but the word "inoperable" is probably here to stay. We're better of researching preventative measures for those with a family history of cancers.
I think 13 billion is about one third of UN's estimated yearly cost to end world hunger by 2030. Considering Meta has already lost, what, 700 billion in market value since becoming Meta... that amount of money could have, if not outright ended, at least drastically alleviated world hunger. It's just crazy to think about.
The problem with Meta is its priority on monitization over improving software is why theyre failing. I like to think meta was so preoccupied with the prospect blockchain technology that they never gave a shit about the software let alone the quality, being good.
It was never about improvement or even convenience. Blockchain is really nothing more then an opportunity to scam and control. Only a few actually make good profit, most people lose money, and there's nothing the blockchain offers that can't already be done more efficiently. Even the "decentralized" argument now is failing because everyone making their own blockchain is trying to tie it to their own ecosystem... the OPPOSITE of decentralization.
Should've listen to John Carmack, but noooo, why not just make a boring and lifeless version of vrchat/second life. Frickin Playstation HOME on the ps3 had more going than this!
I would feel bad about what's going on with Meta, but holy frick, it's an absolute accomplishment to spend billions of dollars, not even fathomable by most people, and manage to make people hate their content even more
I work at a college and am surrounded by young people (I'm in my mid-30's for context) and I've not met a single person who is excited for or taking seriously any of this "metaverse" stuff. In fact, many of the Gen-Z kids I work with talk about wanting to disconnect more, and even going to flip phones with no smart features. The popular trend actually seems to me to be going towards disconnecting from, rather than becoming more absorbed in tech.
I just choked on my tea at the 1:00 moment when I heard the quote about wanting a billion people (1/7th of humanity, give or take) in their garbage VR chatroom service, spending hundreds of dollars each (disposable income that a LOT of people just don't have in this absurd economy). Yeah, and I want telekinesis, flight and a healing factor. But the real world don't work like that, for either me or Zuckerberg. XD
no kidding that was my response as well... i'm sure all those distended belly starving ethiopian children will be first in line, shmuckerbergs biggest supporters of the VR, a billion people spending hundreds each... what a joke, this subhuman creature only cares about money and NOTHING else, he's like just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
Same here. I’m pretty sure that there isn’t even a billion people living in first world countries, let alone enough people who want to buy absurdly priced luxury items
Saw the thumbnail and literally thought this was a video from a couple of months ago. How have they lost even more billions in such a short amount of time? It's incredible!
i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
@@wyslanniknewworldorder9525 i don't have a clue what i could do with that much money, but i'm pretty sure i could achieve more with it than Meta has so far
Aren't their user numbers heavily inflated as well? Remember some report last year that showed their platform (Horizon Worlds) had about 50 concurrent active users, most of which were the employees.
this, i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
I hate how little throwing away billions of dollars actually means to Facebook. They can shift around assets and play with their checkbooks and erase most of the hurt if it doesn’t go well for them. Until then, they can keep forcing a project nobody wants until it either catches on or they get bored.
Yeah they just use their employees as a meat shield for everything, not that they dont deserve it for being willing to work at a stupid and morally corrupt enough company like zuccbook but, too bad it will eventually backfire when they find our they took it too far on one of the next massive round of firings and then dont have enough employees for everyday functions and they crash even harder
Yeah!! It seriously makes me wish that the government DID SOMETHING about companies like these with actual law related consequences. Like: Mark? You're fired and arrested, no bail or any amount of money will change our minds. WE are the LAW here!
@@stefthorman8548 Honestly I'm shocked the board hasn't stepped in by now because the way things are going the company's gonna go under But then I guess Mark does own them, although at this point he'd better be paying them an awful lot because if he isn't he's screwed
Holy molly.... You know... I actually would really, _really_ want a job at Meta right now, just to get an insight look into what in the actual heck they are doing behind the scenes
@@ColdHawk I mean, I'd totally want that job under the condition that I didn't need it. Just being around for the dumpster fire going "yeah, sucks, huh" would probably be quite therapeutic. If your livelihood depends on it? Yeah, I don't think anyone wants that.
The thing about Pathfinder: Wrath of the Righteous is that even though the story and dialogue is superb the RPG mechanics is dull and extremely repetitive from what the negative reviews were saying about it. What is your take on Pathfinder: Wrath of the Righteous?
@@hunterhawx8990 its a good story rpg but the crusade battle mechanics are laughably easy once you learn to just archer spam though they make up little of the on screen gameplay.
Having all of the calm, practical, and uncensored conversations I've had on FB over the years in a virtual reality world filled with early 2000's models- with legs- while also spending money sounds like a real dream come true.
Based on that singular sarcastic comment I can infer your entire moral character, and I want you to know I hate the person I just absolutely know you to be. Marky's amazing platform honed this amazing power of judgement I have...
The most popular games out there struggle to keep 1 million consistent players Companies aren't going to use it over more convenient options, gamers aren't going to play it over more fun options, and Facebook moms probably won't know how to log in This thing appeals to no one, and yet the Zucc wants it to become the single most popular platform in the planet
Meta with john carmack: profits across the board, fans happy Meta without john carmack: £100 price increase on a 3 year old VR, every bad decision imaginable, anti-consumer practises, lost 13+ billions
@@kryten09 Imagine going to John Carmack (the guy responsible for Doom 1, 2, 64, Quake, a fucking Space Rocket company that made a rocket engine even musks company and nasa were generations behind, a man so intelligent Zenimax took him to court and lost to him) and saying to him "we know better than you do so you are gone" Thats like shia labeouf going up to mike tyson and saying "I'm a better boxer than you" only to wonder how and why he got his ass kicked
Nah. Carmack himself said that basically no one important at Meta listened to him about things that mattered so their success or failures are not related to him, as they weren’t even following his advice.
There is no point in trying to pull out of the dive... the wings have ripped off, terminal velocity has been reached. The only thing left is for the vultures to pick the profitable chunks out of the wreckage once the dust settles after impact.
I mean, honestly yeah lol. It's an obvious flunk that is irredeemable but instead of just doing what a sane person who's ego would fit in their car would do an apologize cut the crap take their money and step down letting someone else run things, zuck is just gonna keep insisting people want it and will use it even when a survey says no one wants it or is using it
"The device sell so well after a year after launch. Let's make it more expensive. Also make the new device that super expensive and target the different target than the popular usage. We're having more and more rival right now. This must be a great decision."
Also make it have only a two hour battery life and take more than that to charge. And mandatory Facebook integration. Sounds delightful and so appealing...
@@tvctaswegia497 yo literally I remember when I was playing vr like every day a year ago and I had to charge so often that made me lose interest and be less happy I eventually stopped trying and got off for good cause I had to quit so often and lose the stories and experiences I could have been having but no have to go charge after 3 games.
I said it once before the deletion, so I’ll say it again; It will be some divine miracle if this product manages to just break even at this stage… or be released… or be good.
At this point they are so dived in that the best thing they can do is deliver a somehow decent product that wont ever reach break even. Its the only way they have now to minimize loss. There is no scenario were META makes money with metaverse, not today, not in 10 years.
I think I can guess why Suckerberg needs Metaverse. He is so unable to deal with the reality of his failure that he’s needs his own little reality to hide in.
There's a reason why I came up with a funny conspiracy theory that Zuckerberg's brain was hijacked by an AI, and it desperately wants to go back to living in a digital world because the real world makes no sense to it. XD
Giving up on the whole metaverse thing is the real boogeyman for people like Zuckerberg, 'cause of optics and validity. It gives validity to their critics and makes investors feel like they can't trust MZ. They should know by now this is just a giant money sink, but MZ keeps going out of stubbornness and optics.
@@ags8507 probably because Facebook is essentially dead. Not sure about Instagram, but I am guessing they are not growing as fast as they used to. He realized that he needed to find a new market to keep on going and he is essentially on borrowed time with the current things he has. I'm surprised he didn't just simply try to buyout a competitor. Another reason for why he wants Meta is because his company could essentially control a sub economy if it ever took off in his walled off garden. You would be stupid if you made something for Meta and Zukerburg ultimately ends up controlling it.
Maybe a bit of an optimistic take on this: at least the money didn't disappear, it just flowed to other companies. Not that this is very likely to do anything for their employees, but at least failures like this distribute capital a bit more evenly among companies. So yeah, remember: When a huge megacorp like Facebook screws up, smaller companies profit.
Weird thing is, they’re actually making major strides in VR tech behind-the-scenes. It’s just that their consumer-facing products don’t seem to benefit from any of it. It’s such an insane waste of resources.
Truly the metaverse is the greatest entertainment product ever imagined, because i don't think i'm ever quite as entertained as i am when i hear about it's abject failure
@Akmal Ibrahim Something tells me Mark Zuckerberg kinda hates vr chat. Like enough to not even want it. Because I don't know if it still allows copyrighted characters but it used to. His company can't own a product like that. His company would get sued into the stratosphere. If it doesn't allow them now it's way too late to go back. Zuckerbergs got sunk cost fallacy to content with
@@1stCallipostle Yep glad they didn't. VR Chat would be dead in a few months with all the restrictions they'd implement especially in terms of copyrights.
Miiverse at least did complete it's goal, kids did talk to each other about video games and it was kinda fun. Meta ain't making money, replacing real life, or getting players and the most enjoyable part about it is the failure.
Man I'm current major is Graphic Design, I hate branding and marketing part and inside making slide is research and I just hate "customer targeting" but now looking at Metaverse I know how important it is
They’re targeting the wrong audience and focusing on the wrong thing. If they wanted to start seeing some gains they should be trying to attract the VR enthusiast crowd, not the office worker crowd. VR tech is simply not there yet in terms of convenience and ergonomics. Even if it is there come 2030, it’s still gonna take time for your average Joe to adapt. Edit: Even if they did target that audience however, it likely it’d still lose money due to the community being relatively small
I'm sure if they focused more on gimmicks and mini games then people would be more open to trying it out. People have no idea what makes the Metaverse different than other VR sim games because there's nothing in Metaverse and they don't mention any actual features in a way that grabs people's attention.
They can't target the niche of VR enthusiasts, the plan is to go big on creating a self-governed digital marketplace where Meta gets a cut of everything and where they set the rates of everything Mark wouldn't be so hard at the prospect of a metaverse if it was just interesting tech sold to a relatively minor community
They should look at vrchat, before that having a vr seemed like a huge waste but with all the amazing things a person can do in vrchat it made so many people jump on the vr train because of it. Meta is stuck in 2020 where the world needed a hub to connect, but in the 3 years since 2020 the world found cheaper and easier solution while meta is hoping their expensive bet will be that solution
You know what makes this whole fiasco really delicious? Having read 'Snow Crash', the cyberpunk novel from which the Metaverse name originated. In the book, the Metaverse was the creation of three highly intelligent programmers. They created a framework, a blank canvas, for a large virtual world where people's creativity could run wild. From that, the glitz and glamor of a digital city grew organically, becoming something Zuckerberg could only dream of. To see the Metaverse concept perverted and forced by a megacorp would be as cyberpunk as it gets, if it weren't for their colossal failure.
@@twgok3162 I suppose you're right, except for scale. The OG Metaverse was a blank planet, with 'Main Street' circling around it at the equator. Also, Snow Crash predates RL social media VR by a couple of decades.
And the hordes of foreigners pouring over the southern border each month makes a nice replacement for the Camp of the Saints style floating city that was headed for the west coast. Now we just need the mafia running all the pizza joints.
I kinda want them to succeed but also know how they are going to be controlling everything.. marks greedy as hell we will probably have to deals with ads or something
With that money, it is possible to build the entire universe of The Elder Scrolls franchise in digital space for VR users. But seemingly Zucc had to waste it all...
All these VR worlds that companies like Meta are trying to push are from the fever dreams of people who are chronically online. Normal people want to go out in the sun and meet people in person and have real meals and beers. Even introverted people like me. VR shopping is just the convenience of Amazon with more steps and awkward goggles on your face. Seeing the Grand Canyon in VR is neat but it's not the same as actually going. We will have "something" like a metaverse in the coming years but it's not going to be what these guys are pushing for.
“Why do corporations stock pile billions of dollars!!?”. Exhibit A: Meta. So they can heavily invest in a product(s) and stay afloat if the product is a money dump or fails.
A recent conference I was at for ISP's there was a presentation by someone they had in their slides that metaverse could take up 25% of overall bandwidth by 2030. Half the room laughed.
What we thought back in 2020 would melt the world's computing reserves and bandwidth: 4K VR virtual worlds, cryptocurrencies, NFTs What's actually melting the world's computing reserves and bandwidth: People finding ways to trick fancy autocomplete into writing smut for them And I still prefer variant 2.
I honestly couldn't be happier about any other company going bankrupt than the one that made all their money selling personal information to other morally bankrupt companies It also is one of the few companies who no one would've thought could go out of business until they announced the meta verse, the most ambitious waste of money one could think of
@@keebs4265 I'm surprised we have yet to hear the slightest grumbling from the share holders. Watching half your investment evaporate in a matter of months can't be good for one's bank account.
It's sinking like MySpace. At one time, MySpace was pretty much everything until it was dethroned by Facebook. Now FB or Meta is fading into obscurity. Passing fads all of them.
@@RoyMatzem yeah they aren't bankrupt yet but I'm saying if they did it would be great and now it's no longer unthinkable that they could with Epic Games taking heavy fines on their underage kids data distribution, Twitter having been bought by Elon and Facebook getting a reputation as a rightwing disinformation website the amount of money he's wasting on Meta and the rebranding is pointing towards a possible dead end for them which until Meta seemed impossible
People who use FB/IG wants to show their friends that they are active(outdoor) and doing well in life. That is the exact opposite when you put on the VR goggles and stay indoor.
Even if they significantly improved it. There is a reputation they have to dig themselves out of, No man's sky and FF14 are very rare examples of an initial virtual product being salvaged. And the thing is there was no other product that could replace these at the time. The longer metaverse stays on the losing side the more time a competitor can launch a comparably better product, Zoom, teams, etc are companies with an integrated and developed communications platform and it only takes little imagination that they develop a virtual world.
There's FFXIV and then there's NMS FFXIV is the exception to the rule, they dug themselves out of the reputation hole and rose to the literal top as the most popular MMO NMS dug itself out of it's bad rep, but it's still a mild success at best And this is not me taking a dig at NMS, this is just to illustrate that even if Meta suddenly got everything right they're still at risk of this not becoming big enough to sustain itself with the amount of money they're losing NMS can afford to be a mild success, Horizon Worlds NEEDS to be the biggest thing ever
The funniest part is that I feel like almost any other company could have pulled it off, but Facebook had so little sense, and so little trust, that nobody wants to use their headset.
Expecting 500k within a month, on a system that is pricey, and not typically a prioritized system among most people is just a messy practice, Echo VR is being shut down because “only” 10k are playing, that’s a good number of them players to have for an online game that’s a couple of years old. It’s clear that meta has no idea of how people play games
Metaverse should be something like an escape of reality not a Cartoony version of real world. Meta tried to bring a metaverse that is regulated and a controlled environment (for obvious reasons) but then that is exactly why people ain't interested. Metaverse should be the Isekai we all liked
People celebrate meta failing but if you think amount the amount of money wasted for nothing it's very depressing, with those billions we could've gotten very close to curing world hunger
Hunger will never be "cured", governs spend trillions and dont resolve this issue, is not a question of much money, is structural and relationship problems
At this point I just want Meta to sell their VR assets to a company that will actually focus on getting 1st party devs to make games for the headset instead of this silly direction.
@@majamystic256 id fukin love that. Can you imagine an Index in the form of a quest 2 or a quest 3 along with the ease of connecting via pcvr. Plus the support that Valve can bring in terms of vr game sales and drivers to keep it going.
Man this is why I've lost all faith in humanity. Imagine all the lives you could change or the good you could do with almost 14 billion dollars but instead this is the sad reality of the world we live in.
I mean the money left the big corporation and went to paid workers/Contractors so it’s not what you said is wrong but the money didn’t disappear. In my opinion the money is currently in better hands because of META’s poor recent decisions but probably still won’t be spent on helping anyone but those paid. Still there is very few things over the last year that I’ve seen meta succeed at.
@The Full Metal Alchemist Well of course it's the fault of humanity. They only had untold billions to squander because a huge chunk of humanity used and supported Facebook. They didn't just conjur money from the shadow realm... we built them.
Meta Leadership: "We can't figure out legs! We can't keep people! We are burning 13.7 Billion and cutting jobs!" VR Chat Users: "I've got a off the shelf gaming PC, and i've built my own cool world with unity and my own 3D avatar with working legs with Vroid..." Meta Leadership: (ignores VR Chat exists) "So anyway, lets market to 13 year olds, they'll love this!"
They probably could have just bought VR Chat for maybe 500M and saved themselves billions. Not that that would have been a guaranteed success, but it sure would have been less of a clusterfuck. If I were a shareholder, I would seriously ask questions about why they didn't just do that.
The fact that Mark wants "1 billion people to be doing commerce in his metaverse" says it all. NOBODY, and I mean NOBODY is interested in paying for another service they can already take care of by using something else they already pay for. BS VR is NEVER going to replace vidoechat for the workplace, bosses want to be able to see their workers and confirm they are working rather than looking at what could very well be pre-recorded and assuming the best. - Also shoes that have laces will never be waterproof. No matter how much the water won't go through the material it will still slip in past the laces and tongue, not to mention down the sock from drenched pants. And at a price point of $180 I wouldn't waste my time testing it. I could easily buy two or three other pairs of shoes with that money.
@@toututu2993 quest 2 was not made by the meta it was just acquired when they acquired oculus, and the commenter is talking about the metaverse which mark suckondeez seems to be tirelessly throwing money at
There's no way billions are spent on meta with nothing to show in terms of development. There has to be an insane amount of embezzlement or money laundering
Facebook: we are going to shut down a game because 10,000 concurrent players is too little and doesn't bring in enough money Also Facebook: We've lost over $10 billion because we tried to recreate the game Rec Room with less features
Oh dear god the second book is even more dystopic. Uploaded mind copies of humans escaping a doomed Earth all while trapped in a perpetual 80's nostalgia simulation.
Its crazy to me a movie that good can exist and companies are still trying to be like that company for vr like what. aint no way were just letting it happen too no wonder VR wont be moving forward in the further. it doesn't have a chance to make it!
Even a fraction of that wasted money could've saved the jobs of the 11,000 employees Meta laid off, but of course, flushing money down the toilet is more important to corporations than treating people like humans.
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Props man fixing a vid is way more cumbersome than updating an article
Looking at how much money was wasted for a trash project, don't you think Facebook was clearing out the adult daycare?
I hope taking down, editing, and re-uploading the video was not too hard. Props to you for doing it, and sorry for being part of those that pushed you to it. Have a 2nd view from me as collateral
Will you talk about the Hogwarts controversy? Lol
Saved the jobs of building a broken Metaverse? I don't understand the criticism.
The fact that Mark wants "1 billion people to be doing commerce in his metaverse" says it all. He doesn't want this because he thinks it will be beneficial to people, he wants it because he wants a huge commerce market that he exclusively controls.
It was also really boneheaded to think anyone would use VR for e-commerce when a website or auction listing works way more easily.
this, i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
VR gaming is actually really fun... But the thing is, they don't care about that market anymore. "Thanks for being the early adopters... We're gonna focus not on games and experiences for you but trying to get you to do all your business in the metaverse".
The tech for VR and audience of tens of millions is already there.
It's amazing how badly Meta keeps squandering this.
He’s hoping that after the initial investment, he’s printing money by helping sell shit that doesn’t exist
they are idiots
I use everyday Microsoft Teams for web-meetings and never even use my webcam. The idea to use a VR headset in a business is laughable.
Why would I want to see a moving avatar in 3D of another person?
After 3minutes introduction in a meeting you will star on some form of document (excel, graphics, etc) anyhow.
Just imagine all the good vr games or indies we could've gotten if those billions were spent on something better and worthwhile.
They legit can follow Sony path by making good exclusive game for their oculus VR, idk why they just focus in metaverse
I feel like the biggest problem with VR right now IS a lack of library. I've got about seven games on my VR and they're all very small and easy to beat. There's only a handful of large titles, even with Steam publishing VR games.
Yup...they don't seem to understand that most people don't care about VR for working or for their metaverse BS.
The vast majority wants VR for gaming and the main thing in the way of VR adoption right now is the lack of software content.
Had they focus their effort on accessibility and quality content, they might have actually turned a profit.
It's as if we shouldn't trust megalomaniacs with literally 50% of our planets resources 👀
or imagine how much more realistic vr itself could have gotten
Meta is the new Stadia, until I see a story about it, I forget it exists.
Who's STADIA
Literally forgot about stadia until you said something
It's worse, at least Stadia had some kind of product to offer. Not the greatest quality, but a product nonetheless. The metaverse is nothing
@@ZZ_Tops_007 The plural of Stadium 🏟️
You mean the old Stadia? It's more like a reverse 4th wall break, trying to break reality to get back outside of it and into a video game...
The fact a company can lose billions of dollars with no consequences is astounding.
No consequences? I wouldn't say that. Zucc the Succ sacked 11000 consequences to his fucking idiocy.
Isn't the losing of money the consequence though?
@@Laff700 I think they meant the lively hoods of people aren't being affected that much from Meta losing money (but then again it's not like they filled for bankruptcy yet)
@@Laff700 I mean, if a startup lost thousands, they’d have to shut down. Meta can lose BILLIONS and not be affected, in fact, they can just ruin other people’s lives and lay a shitload of people off instead of eating their losses!
Perhaps because those billions are not worth much?
"Live services are failing"
"The Metaverse is failing"
2023 hasn't been too bad so far, imo
Don't forget "D&D Beyond is failing"
Well we had to get some bounce back into positivity eventually. It can't rain everyday.
Frankly sounding like good things, let crap die off so good things can rise.
wipe the slate clean, let this big corporate trash burn
I love watching AAA companies and CEOs learn that they can't force people to use their product if they don't actually put in the work to make it good not a cash grab lol
Oh no! A corporation losing billions over a failed endeavor! How will we ever cope with this tragedy?!
I mean, there is a tragedy here, and it's all the layoffs and wasted years of people's lives on Zuckerberg's white whale.
well your tax money will be used to aid them most likely.
Master bait??
"Failed" is a bit much, it's way to early to call that, only been 2 years since the quest and 5 since the HTC vive
Through Tax evasion
In 1 year they managed to lose a dollar for every year the universe has existed, impressive!
It's repulsive to think a single company can lose that much money in a single fiscal year and still have enough to do it again for several more.
Meanwhile we cant feed everyone even in the developed world
@@Afgrahamistan the consequences of hyper capitalism
And thats why its called metaverse baybeeee
Sometimes it feels like it's only in Big Tech you can lose more money than normal people will ever see in a thousand lifetimes and play it off like it's no big thing and act like you're winning big.
It's amazing to think just how many local economies could be revitalised with Meta's losses
At the rate they're losing money i think Mark would have better luck starting a real physical nation with it's own real market for him to tax as the ruler
This is too sad to be funny.
@@Stryqwills 😂
Or how many national economies lol
The limitless potential of what VR could be. A place where you can be anyone or anything... And humans tried to make it into an exclusive country club where you bring your social status from the outside.
It's like... Zuck, your intended demographic doesn't *need* to escape! They have private parties, beachfront property and jets right now in this world. Which they own.
You nailed it, dude
Corporations and their greed bro, your average human just wanted to have fun and be happy.
damn tell this to them though not here. here does nothing.
@@Imokay304 I doubt telling them would do anything
@@sphee4149 probably but still better than here
If anyone was curious as to what the sunken cost fallacy looks like in action, this is it.
💯💯💯
Definitely
That's the thing with companies like this; once they reach a certain level of success, they become so disconnected from reality that they think they can simply impose their will on reality and that the world must then follow suit. And then of course it's the target market's fault for the failure of the product. The drop-off numbers of usage and how you describe the metavoerse reminds me of something a former coworker said about their job, "They should be looking into why people are leaving instead of looking for people who will stay".
That phenomenon you described at the end is what I call “Corporate Survivorship Bias”. In the short term, it’s easier to focus on keeping your customers than it is to persuade them to come back.
lol EXACTLY, my last job usually made 25-35 mil a year, owner had 2 mercedes SUV and a porsche panamera and constantly leased out new porches, president and VP both owned a BMW and constantly leased out mercedes and the VP would buy his kid a new mercedes everytime he crashed it(5 times by the time i quit)..... it's usually 100-120 degrees inside the building, working with most kinds of acid cyanide and worse doing electroplating(putting the gold/silver etc on jewelry/aerospace parts etc, DEMANDING people come in on the weekends or lose their job, paying MINIMUM WAGE, making people go 3-5 yrs for a 10 cent raise(in 2019 i finally got my first raise after 3 yrs for 10 cents i almost slapped the VP), people working there for 18 yrs making like 19 an hour still or less, vice president of operations was a real MFer constantly yelling and screaming at people, they FINALLY got a really good person working on the barrel line, he'd been let go by his last job making $25 an hour, this company wanted to hire him for $15, he's like WTF at least meet me half way??? they fired him after the first month because he wouldn't let it go, within like 2 days he was already working somewhere else making 25 again... he actually did good work and didn't screw stuff up constantly, stayed late, showed up early.... A+ employee they fired because he wouldn't stop asking for what he was worth and was previously paid because then he would've been making more than 20+ yr managers who weren't even making $20 an hour.....
and then they wonder why they've had "looking for platers" ads in news papers and online for nearly 10 yrs now and can never get enough people or solid people that STAY and don't leave within a few months... HMMMM MAYBE DON'T TREAT THEM LIKE DIRT AND PAY THEM REASONABLY WHEN ITS SUCH A DANGEROUS SHITTY JOB!!?!?!?!? maddd people got taken out in ambulances cause the fumes built up because they didn't wanna have the doors open during the summer and between the 120 degree heat and noxious fumes people would pass out or get wicked sick, place was awful.
@@zeening I'm surprised you lasted at least 3 years, unless you really needed the money and couldn't find a other opening.
Personally, I think it's not to do with a level of success, but with the kinds of people said success attracts. This sort of thing happens when your company has too many money people and not enough (insert business here) people.
it's a combination of what you described and also shareholders applying pressure. most of these CEOs are beholden to their investors, and in Meta's case the main issue was that they lost large market shares of their main driver of revenue; advertisements. from what it seems like, they kind of threw this metaverse thing on the wall and hoped it would stick but it just doesn't check out at all.
What gets me is that in every marketing seminar I have attended, they still insist that the Metaverse is the future. The urge to not cringe at older marketing executives who clearly doesn’t listen to their younger employees is really hard. I still remember how one exec claims that Gen Z is totally into Metaverse and we all tried not to laugh.
One of yous shouldve laughed and that probably wouldve been a reality check
I openly laugh at and mock these people... I'm not allowed in the main room during my employers quarterly meeting anymore.... I have to go to a satellite room and watch it on a TV 😂
@Keebs I was interested in nanonbots when I was 6 and now I think the concept is erroneous.
You should have laughed. REALLY hard. They dont understand normal Language apperantly.
Just a massive case of fomo.
Imagine expecting something dead on arrival to become the biggest trend in the world. Surely, no company before had such hopes.
cough stadia cough
@@ironboy3245 both stadia and metaverse died even before arrival, after all they were so bad even in the trailers/concepts that they died before they even got out
I won't celebrate metas demise until it is actually done and gone. People doing so right now are no different from the shareholders who kill companies because they only care about quarterly results. Zucc is betting on long-term plan which may or may not be counter productive in relation to quarterly profits. The company is doing poorly now but he believes these losses are worth it (or will be worth it) because he continues to double down. Please correct me if I'm wrong.
@@yanmew you're on point, but zucc doesn't realize that the customer gets the final say on that long term plan. If the customer doesn't like his product, well he should fix it, but it's clear he doesn't want to.
@@ironboy3245 Stadia actually had SOME Optimism. Sure it crashed and burned almost fucking IMMEDIATELY but it wasn't anywhere near the level of 'This is gonna fail' expectations that Metaverse has.
I mean I kinda knew it had too many points of failure and then on top of that, John Carmack (who was on the project MAINLY to see VR be far more of a reality than it is now) leaving the fucking project is what we call 'The Beginning of The End' because he was their main software guy...Yeah...
imagine being an top engineer like Carmack that likes to squeeze every little thing out of cpu cycles to be as efficient as possible and then witnessing wasteful spendings and efforts around you. that gets to you eventually.
Thank God he left. His genius is best utilized elsewhere.
@Zekeram12 at the very least, at least "facebook" doesnt have him anymore
@@zekeram129 yeah and they replaced him with an ad guy. It's only going to be downhill for their VR.
@@TheMock5000 I think the right analogy would be “uphill”…it’s harder to go uphill lol…but I agree
He was literally the Indian guy on the side of the road, single tear coming down his cheek.
The Metaverse is the proof that you can't just throw money at a project/endeavour and make it automatically, magically successful.
AKA The Stadia Rule...right, Google?
@@guitarpick2002 at least google stadia learned its lesson and spent way less than a billion dollars on it
@@guitarpick2002 At least Stadia had better plans in the long run.
Big Companies: "BUT THE CHART SAID...."
you thought otherwise?
Interest rates will go down to zero at some point, but for now, Meta is operating under the assumption that debt is free or cheap. Hope it costs them dearly.
When you're rich, debt is always free and cheap...because capitalism is really, really dumb
With the 46th president ? Don’t kid yourself
They won’t. Fed already said that won’t happen again. It was a false economic boom.
@@thelightfantastic6388isn’t the economy already a political thing?
Interest rates being so low for so long is why we are seeing tons of economic issues now.
It's ironic that the division is called Reality Labs, as they've lost touch with reality for quite some time.
The sunk cost fallacy is one heck of a drug.
A recent Zoom meeting with family members reminded me of just how much lag one can experience just doing video chat in the same state. Meta expects that I'm going to conduct a significant portion of my life within a process that is like that, only far more exploitative, expensive, and cumbersome. The question is not "How is that going to work?", but rather, "How has it gone this long without anyone with the power to stop it realizing that it will not and *cannot* work?"
I personally don't find the idea appealing, but I remember one of Zuck's reasoning for the look-alike avatars was to replace video calls with 3D models in order for it not to lag so much
Because that's a practical concern, based in the real world. Zuck's never had to deal with those
@@Locomamonk Yeah, because that makes _perfect_ sense. \s
VR Chat, Chillout VR, Neos, and various other companies have already managed to make it work. Wild that Meta have spent billions and have very little to show.
Can you imagine being a Dev or coder for metaverse, knowing you're struggling to bring in 100,000 players, meanwhile Zuckerberg is hoping to bring in a billion in the next few years😂
Not just them, but the people in charge of marketing. I'd be sweating bullets if I were in their shoes.
@@gregbrown8881 Pretty much everyone working on it who isnt zuckerberg are sweating bullets lol
Mark's got those ninja snipers with a fucking laser trained on the head of every employee while he goes "you're making this thing work, or i'm going to make your brain stop working"
its like zuckerbeg is living in another dimension... probably high on cloud district like nazeem from skyrim...
There is not even 1 billion gaming consoles total sold.
The Metaverse is what happens when people with too much money aren't told "no". Meta is the author of its own demise, the signatory to its own death warrant.
I don't understand why anyone would believe this is a good idea. The Metaverse is just a Second Life copy with worse graphics and less functionality.
I can assure you ol Mark sees and hears the no. But when you are a preprogrammed android its kind hard to reason with it.
no this is just an unsuccessful attempt at control , them losing even 20 billion is nothing in the grand scheme of things
People did tell them no. People told them no one would be interested. They didn't listen and did it anyways
@@Kono194 It's time where you have to physically force someone no. Rip out the servers, burn the place to the ground, ANYTHING to get a company to actually pause and think hard for hours, and actually do what is right for the world and stop the project.
Games like second life or vrchat are their own metaverse done right.
Even stuff like fortnight and roblox could count as one. They should have known their particular attempt would fail as Sony tried something similar to what they trying to do back on the PS3 called Playstation Home. Nobody wants to socialize in a corporate sterile version of real life when they can do the same useing normal communication methods or something more fun.
To be fair, second life, while amazing and successful, has a very shady economical system. It became a giant supermarket full of stolen art.
VRchat *was* totally open and free... Now it become more and more shady and they add more and more paying things. It's full of rape/abuse complain in addition.
So yeah... Not the best examples. Even if Metaverse is on an other level of evilness.
I think it's very hard to make a virtual world with money without being as corrupted as the real one.
The fact that they were willing to lose all this money out of being stubborn makes me question life sometimes
Because for all the PR lipservice about being for social justice they didn’t just push that money to aid parts of the world world where people are living on less than a dollar a day and cannot get clean water…
Please let this be the deathblow to Facebook. May Twitter follow and social media stop being such a dominant force in the world
Amen
Since the last coverage on Meta showing how badly they're doing on this whole VR front, I've been seeing more and more public ads for Meta but none of them really convey what the actual product is - it's more of a concept of...online-iness, future-y and that.
I think that's the problem with Meta's vision for the Metaverse, they don't know what it is they need / want it to be other than profitable. So they're just going to pump money into it and hope that eventually they'll either figure out whether they're making a professional office tool, a gaming platform with NFT integration in it, an exercise tool similar to the Wii or all of the at once.
Yeah it's like what Yong said, it is an MMO without anything that makes up an MMO. Hell, failed online services like Babylon's Fall offer actual content than this "product," Meta is just a game engine with no use IMO.
@@EJ_Red They know that the future has something to do with some of this technology, they don't know what it is but they want to capitalise on it when we get there.
They're trying to future proof themselves as a business, but they're not sure what to ready themselves for or what with.
@@samjohnson8588 aka they didn't think this through
Like NFTs and live services, the metaverse is a product built to meet shareholder demand. The issue with this is that shareholders don't buy the product - end users do.
I've been alive a long while, yet I've never seen quite this much bad business being conducted at one time. It's absolutely crazy.
@@samjohnson8588 But I don't get what IP they're trying to get out of it. Nothing Horizon Worlds has done is groundbreaking as far as I can tell. They have nothing to profit off of if somehow the concept takes off.
Imagine all the places that money *could* have been spent. Research grants, development projects, charities, economic programs, making videogames that *aren't* pretending that they're not a decade-late tech demo, the list just goes on and on.
Imagine if they put all of that money into cancer research and helped find a cure. They would be praised and more people would support them.
this, i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
@@Hauntaku This. There are a thousand different KINDS of cancer. Dedicate 1 million to researching each. Bam! You spent 1 billion, it‘s probably tax deductible, AND you actually did something to actually progress the human species.
@@Hauntaku I don't wanna be *that guy*, but I have significant doubts a "cure" can ever be found. At best, more consistent removal procedures, but the word "inoperable" is probably here to stay. We're better of researching preventative measures for those with a family history of cancers.
I think 13 billion is about one third of UN's estimated yearly cost to end world hunger by 2030. Considering Meta has already lost, what, 700 billion in market value since becoming Meta... that amount of money could have, if not outright ended, at least drastically alleviated world hunger. It's just crazy to think about.
The problem with Meta is its priority on monitization over improving software is why theyre failing. I like to think meta was so preoccupied with the prospect blockchain technology that they never gave a shit about the software let alone the quality, being good.
It was never about improvement or even convenience. Blockchain is really nothing more then an opportunity to scam and control. Only a few actually make good profit, most people lose money, and there's nothing the blockchain offers that can't already be done more efficiently. Even the "decentralized" argument now is failing because everyone making their own blockchain is trying to tie it to their own ecosystem... the OPPOSITE of decentralization.
Shh... Logic has no part in this corporate endeavor. 🤫
Should've listen to John Carmack, but noooo, why not just make a boring and lifeless version of vrchat/second life.
Frickin Playstation HOME on the ps3 had more going than this!
I would feel bad about what's going on with Meta, but holy frick, it's an absolute accomplishment to spend billions of dollars, not even fathomable by most people, and manage to make people hate their content even more
Give any half competent game dev studio a tenth of this money and watch them make a game to outperform GTA5... or keep doing whatever Meta's doing
@Spike2276 I guarantee there's probably way more companies that if they were given even what Meta has left atm, they would do more than Meta
I work at a college and am surrounded by young people (I'm in my mid-30's for context) and I've not met a single person who is excited for or taking seriously any of this "metaverse" stuff. In fact, many of the Gen-Z kids I work with talk about wanting to disconnect more, and even going to flip phones with no smart features. The popular trend actually seems to me to be going towards disconnecting from, rather than becoming more absorbed in tech.
I just choked on my tea at the 1:00 moment when I heard the quote about wanting a billion people (1/7th of humanity, give or take) in their garbage VR chatroom service, spending hundreds of dollars each (disposable income that a LOT of people just don't have in this absurd economy).
Yeah, and I want telekinesis, flight and a healing factor. But the real world don't work like that, for either me or Zuckerberg. XD
Roblox > Metaverse
no kidding that was my response as well... i'm sure all those distended belly starving ethiopian children will be first in line, shmuckerbergs biggest supporters of the VR, a billion people spending hundreds each... what a joke, this subhuman creature only cares about money and NOTHING else, he's like just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
"OH you want flight?!? We have that in the Metaverse, maybe!" - Mark Zuckerberg, probably
He really wants a scan of your face
Same here. I’m pretty sure that there isn’t even a billion people living in first world countries, let alone enough people who want to buy absurdly priced luxury items
Saw the thumbnail and literally thought this was a video from a couple of months ago. How have they lost even more billions in such a short amount of time? It's incredible!
Imagine how much money you would have to have to fail upwards by losing BILLIONS UPON BILLIONS...
i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
Imagine what You could do with 13.72 billion!
@@wyslanniknewworldorder9525 i don't have a clue what i could do with that much money, but i'm pretty sure i could achieve more with it than Meta has so far
Metaverse is the ultimate example of setting billions of dollars on fire.
Aren't their user numbers heavily inflated as well? Remember some report last year that showed their platform (Horizon Worlds) had about 50 concurrent active users, most of which were the employees.
The billions gone that could've been used in other ventures like better games/projects or some charities or reliefs just ensues bad vibes lmao.
@holding on only to let go He meant Albania, don't mind him.
this, i mean it's just some stupid fuckin antisocial kid pissing away entire countries GDP on NOTHING, someone needs to forcefully take zuckerberg's money and position away from him, IDC if he "built the company" 20 yrs ago by making some shitty website that actively contributed to the downfall of our society, he should be persecuted/executed for starting facebook, NOT allowed to piss through LITERALLY MORE MONEY THAN SOME COUNTRIES ENTIRE GDP EVERY SINGLE YEAR
Meta: failing
Everyone else: 🥳
I hate how little throwing away billions of dollars actually means to Facebook. They can shift around assets and play with their checkbooks and erase most of the hurt if it doesn’t go well for them. Until then, they can keep forcing a project nobody wants until it either catches on or they get bored.
Yeah they just use their employees as a meat shield for everything, not that they dont deserve it for being willing to work at a stupid and morally corrupt enough company like zuccbook but, too bad it will eventually backfire when they find our they took it too far on one of the next massive round of firings and then dont have enough employees for everyday functions and they crash even harder
Yeah!! It seriously makes me wish that the government DID SOMETHING about companies like these with actual law related consequences. Like: Mark? You're fired and arrested, no bail or any amount of money will change our minds. WE are the LAW here!
@@shcdemolisher why? it's his money.
@@stefthorman8548 Honestly I'm shocked the board hasn't stepped in by now because the way things are going the company's gonna go under
But then I guess Mark does own them, although at this point he'd better be paying them an awful lot because if he isn't he's screwed
Their plan literally was
1. Make metaverse
2. ???
3. Profit
They don't even know what is "2. ???" themselves.
Holy molly....
You know... I actually would really, _really_ want a job at Meta right now, just to get an insight look into what in the actual heck they are doing behind the scenes
Taking a job there sounds like a ticket on the fast train to depression.
Nah dont do that dont apply for the suckerborg job mate! They will Shang Tsung you! (Your Soul is mine!)
I like the Mortal Kombat reference there bro
@@ColdHawk I mean, I'd totally want that job under the condition that I didn't need it. Just being around for the dumpster fire going "yeah, sucks, huh" would probably be quite therapeutic. If your livelihood depends on it? Yeah, I don't think anyone wants that.
With budget like this you could make 6850 games like Pathfinder:Wrath of the Righteous or 650 Yakuza games.
Don’t give them ideas I’m only up to playing Yakuza 5 after starting at 0
@K F lol you got Ishin coming out in a little over a week too. Definitely a must buy
Or one really really big burrito!
The thing about Pathfinder: Wrath of the Righteous is that even though the story and dialogue is superb the RPG mechanics is dull and extremely repetitive from what the negative reviews were saying about it. What is your take on Pathfinder: Wrath of the Righteous?
@@hunterhawx8990 its a good story rpg but the crusade battle mechanics are laughably easy once you learn to just archer spam though they make up little of the on screen gameplay.
A bad day for Metaverse, is another good day for us
Imagine how much people $13 billion could help. Instead it gets pissed away on this junk 🤦♂️
roght? people in Canada are asking for maid cause they can't pay rent...
Isn't $13b somewhere in 'ending world hunger' area
Fair enough, but that $13 billion of investment captial only existed because of the success of other junk, namely Facebook.
@@pepeef It's 8 Billion 💀
Lol. The rich forget about the needy. We don't exist.
Having all of the calm, practical, and uncensored conversations I've had on FB over the years in a virtual reality world filled with early 2000's models- with legs- while also spending money sounds like a real dream come true.
Based on that singular sarcastic comment I can infer your entire moral character, and I want you to know I hate the person I just absolutely know you to be. Marky's amazing platform honed this amazing power of judgement I have...
The thought of having more than a billion, even 500 million users on this metaverse thing by the end of the decade is an inhuman expectation
The most popular games out there struggle to keep 1 million consistent players
Companies aren't going to use it over more convenient options, gamers aren't going to play it over more fun options, and Facebook moms probably won't know how to log in
This thing appeals to no one, and yet the Zucc wants it to become the single most popular platform in the planet
If they keep losing this much money this quickly, Meta won't even have a decade to live, let alone get any sort of fanbase. LOL
Meta with john carmack: profits across the board, fans happy
Meta without john carmack: £100 price increase on a 3 year old VR, every bad decision imaginable, anti-consumer practises, lost 13+ billions
The "boardroom" took control
@@kryten09 Imagine going to John Carmack (the guy responsible for Doom 1, 2, 64, Quake, a fucking Space Rocket company that made a rocket engine even musks company and nasa were generations behind, a man so intelligent Zenimax took him to court and lost to him) and saying to him "we know better than you do so you are gone"
Thats like shia labeouf going up to mike tyson and saying "I'm a better boxer than you" only to wonder how and why he got his ass kicked
I haven't even used my Quest 2 in about four months. It just isn't appealing anymore
Nah. Carmack himself said that basically no one important at Meta listened to him about things that mattered so their success or failures are not related to him, as they weren’t even following his advice.
At this point you have to be impressed with the commitment to the metaverse beside the loses. 😊
There is no point in trying to pull out of the dive... the wings have ripped off, terminal velocity has been reached. The only thing left is for the vultures to pick the profitable chunks out of the wreckage once the dust settles after impact.
I would be impressed if it wasn't for the fact only Mark wants the Metaverse while his workers actually don't see the value in it
He needs to face reality (excuse the pun). Losing 13bn a year is not sustainable
"Commitment"? More like "sheer bloodymindedness" @ this point....
I mean, honestly yeah lol. It's an obvious flunk that is irredeemable but instead of just doing what a sane person who's ego would fit in their car would do an apologize cut the crap take their money and step down letting someone else run things, zuck is just gonna keep insisting people want it and will use it even when a survey says no one wants it or is using it
lil Zuck needs a Regina George in his life to tell him: "Stop trying to make the Metaverse happen. It's not going to happen"
"The device sell so well after a year after launch. Let's make it more expensive. Also make the new device that super expensive and target the different target than the popular usage. We're having more and more rival right now. This must be a great decision."
Also make it have only a two hour battery life and take more than that to charge. And mandatory Facebook integration. Sounds delightful and so appealing...
@@tvctaswegia497 yo literally I remember when I was playing vr like every day a year ago and I had to charge so often that made me lose interest and be less happy I eventually stopped trying and got off for good cause I had to quit so often and lose the stories and experiences I could have been having but no have to go charge after 3 games.
The more Meta fails, the better the future of gaming and Vr will be.
I said it once before the deletion, so I’ll say it again;
It will be some divine miracle if this product manages to just break even at this stage… or be released…
or be good.
At this point they are so dived in that the best thing they can do is deliver a somehow decent product that wont ever reach break even. Its the only way they have now to minimize loss. There is no scenario were META makes money with metaverse, not today, not in 10 years.
I think I can guess why Suckerberg needs Metaverse. He is so unable to deal with the reality of his failure that he’s needs his own little reality to hide in.
worst part is is that there are already games that do that, idk why he is insistent in the awful metaverse he is trying to create
There's a reason why I came up with a funny conspiracy theory that Zuckerberg's brain was hijacked by an AI, and it desperately wants to go back to living in a digital world because the real world makes no sense to it. XD
Giving up on the whole metaverse thing is the real boogeyman for people like Zuckerberg, 'cause of optics and validity. It gives validity to their critics and makes investors feel like they can't trust MZ. They should know by now this is just a giant money sink, but MZ keeps going out of stubbornness and optics.
@@ags8507 probably because Facebook is essentially dead. Not sure about Instagram, but I am guessing they are not growing as fast as they used to. He realized that he needed to find a new market to keep on going and he is essentially on borrowed time with the current things he has. I'm surprised he didn't just simply try to buyout a competitor. Another reason for why he wants Meta is because his company could essentially control a sub economy if it ever took off in his walled off garden. You would be stupid if you made something for Meta and Zukerburg ultimately ends up controlling it.
I swear to god, I thought the metaverse was still a concept and in production, literally nobody talks about it.
That billion dollars that was lost could have helped so many people, but was squandered over virtual reality.
Maybe a bit of an optimistic take on this: at least the money didn't disappear, it just flowed to other companies. Not that this is very likely to do anything for their employees, but at least failures like this distribute capital a bit more evenly among companies. So yeah, remember: When a huge megacorp like Facebook screws up, smaller companies profit.
Weird thing is, they’re actually making major strides in VR tech behind-the-scenes. It’s just that their consumer-facing products don’t seem to benefit from any of it. It’s such an insane waste of resources.
I dont know why I love SO MUCH news about the metaverse failing!!
It's like christmas man, everyone loves it
If it's like Christmas then I wish to Santa for Metaverse to lose more money!
I hope the 100k users are mostly just people using it ironically to sabotage it further somehow
Even with all the bad news going on, I'm glad there's some good news being covered
Truly the metaverse is the greatest entertainment product ever imagined, because i don't think i'm ever quite as entertained as i am when i hear about it's abject failure
It's enjoyable for sure
I mean...you aren't wrong.
I wonder if when you log in to the Metaverse, there’s a big flashing sign in the sky that says, “It’s Morbin time!”
This makes me so happy. Nothing gets my day going on a good start like a video about the failings of Meta and Zuckerberg
Imagine was they could do to Second Life with just 1 billion 😅
They would have a better product and 12 billion dollars if they had just bought VR Chat for a billion dollars.
@Akmal Ibrahim Something tells me Mark Zuckerberg kinda hates vr chat. Like enough to not even want it. Because I don't know if it still allows copyrighted characters but it used to. His company can't own a product like that. His company would get sued into the stratosphere. If it doesn't allow them now it's way too late to go back. Zuckerbergs got sunk cost fallacy to content with
@@akmal94ibrahim I'm glad they didn't though
Imagine how fast you could kill VRchat if you applied Facebook tier censorship
@@1stCallipostle Good thing they didn't because Meta would destroy VrChat as it is. It's still possible but at least we have a backup in ChillOutVR.
@@1stCallipostle Yep glad they didn't. VR Chat would be dead in a few months with all the restrictions they'd implement especially in terms of copyrights.
We could of made the most amazing mmo's and rpg's with this much money but they chose to triple down on a first person miiverse instead.
Meanwhile Sok Worlds is $3 on Steam
Miiverse at least did complete it's goal, kids did talk to each other about video games and it was kinda fun. Meta ain't making money, replacing real life, or getting players and the most enjoyable part about it is the failure.
If I had a fraction of that money I would be able to fix so many problems...
I really hope that future generations call losing a large amount of money to hubris as "pulling a Zuckerberg"
"I zucked up my investment portfolio"
@@NateCooper111
THAT one I like
“Dude I totally zucked myself out of like a billion dollars. I need a drink”
and here i though Rings of Power mismanage their budget but this takes the golden goose.
Man I'm current major is Graphic Design, I hate branding and marketing part and inside making slide is research and I just hate "customer targeting" but now looking at Metaverse I know how important it is
They’re targeting the wrong audience and focusing on the wrong thing. If they wanted to start seeing some gains they should be trying to attract the VR enthusiast crowd, not the office worker crowd. VR tech is simply not there yet in terms of convenience and ergonomics. Even if it is there come 2030, it’s still gonna take time for your average Joe to adapt.
Edit: Even if they did target that audience however, it likely it’d still lose money due to the community being relatively small
I'm sure if they focused more on gimmicks and mini games then people would be more open to trying it out. People have no idea what makes the Metaverse different than other VR sim games because there's nothing in Metaverse and they don't mention any actual features in a way that grabs people's attention.
They can't target the niche of VR enthusiasts, the plan is to go big on creating a self-governed digital marketplace where Meta gets a cut of everything and where they set the rates of everything
Mark wouldn't be so hard at the prospect of a metaverse if it was just interesting tech sold to a relatively minor community
They should look at vrchat, before that having a vr seemed like a huge waste but with all the amazing things a person can do in vrchat it made so many people jump on the vr train because of it. Meta is stuck in 2020 where the world needed a hub to connect, but in the 3 years since 2020 the world found cheaper and easier solution while meta is hoping their expensive bet will be that solution
You know what makes this whole fiasco really delicious? Having read 'Snow Crash', the cyberpunk novel from which the Metaverse name originated.
In the book, the Metaverse was the creation of three highly intelligent programmers. They created a framework, a blank canvas, for a large virtual world where people's creativity could run wild. From that, the glitz and glamor of a digital city grew organically, becoming something Zuckerberg could only dream of.
To see the Metaverse concept perverted and forced by a megacorp would be as cyberpunk as it gets, if it weren't for their colossal failure.
U just described most vr social experiences with community made maps models and games like rec room vr chat
@@twgok3162 I suppose you're right, except for scale. The OG Metaverse was a blank planet, with 'Main Street' circling around it at the equator. Also, Snow Crash predates RL social media VR by a couple of decades.
And the hordes of foreigners pouring over the southern border each month makes a nice replacement for the Camp of the Saints style floating city that was headed for the west coast. Now we just need the mafia running all the pizza joints.
every time i hear an article about one of these mega tech corps losing insane amounts of money my day gets a little brighter
I kinda want them to succeed but also know how they are going to be controlling everything.. marks greedy as hell we will probably have to deals with ads or something
With that money, it is possible to build the entire universe of The Elder Scrolls franchise in digital space for VR users. But seemingly Zucc had to waste it all...
That much money could build it in real life as a theme park, and keep it running for a decade probably.
The big question is how did Reality Labs bring in even $727 million dollars?
All these VR worlds that companies like Meta are trying to push are from the fever dreams of people who are chronically online. Normal people want to go out in the sun and meet people in person and have real meals and beers. Even introverted people like me. VR shopping is just the convenience of Amazon with more steps and awkward goggles on your face. Seeing the Grand Canyon in VR is neat but it's not the same as actually going. We will have "something" like a metaverse in the coming years but it's not going to be what these guys are pushing for.
“Why do corporations stock pile billions of dollars!!?”. Exhibit A: Meta. So they can heavily invest in a product(s) and stay afloat if the product is a money dump or fails.
A recent conference I was at for ISP's there was a presentation by someone they had in their slides that metaverse could take up 25% of overall bandwidth by 2030. Half the room laughed.
What we thought back in 2020 would melt the world's computing reserves and bandwidth: 4K VR virtual worlds, cryptocurrencies, NFTs
What's actually melting the world's computing reserves and bandwidth: People finding ways to trick fancy autocomplete into writing smut for them
And I still prefer variant 2.
Meta is the gift that keeps on giving. It’s a self replicating financial Darwin Award.
I honestly couldn't be happier about any other company going bankrupt than the one that made all their money selling personal information to other morally bankrupt companies
It also is one of the few companies who no one would've thought could go out of business until they announced the meta verse, the most ambitious waste of money one could think of
But they arent bankrupt, not even close to that, they have dozens of products making money, theyre just wasting money
@@keebs4265 I'm surprised we have yet to hear the slightest grumbling from the share holders. Watching half your investment evaporate in a matter of months can't be good for one's bank account.
It's sinking like MySpace. At one time, MySpace was pretty much everything until it was dethroned by Facebook. Now FB or Meta is fading into obscurity. Passing fads all of them.
@@RoyMatzem yeah they aren't bankrupt yet but I'm saying if they did it would be great and now it's no longer unthinkable that they could
with Epic Games taking heavy fines on their underage kids data distribution, Twitter having been bought by Elon and Facebook getting a reputation as a rightwing disinformation website the amount of money he's wasting on Meta and the rebranding is pointing towards a possible dead end for them which until Meta seemed impossible
Imagine have the unfathomably large financial pocket to be able to say “Yeah, we EXPECT to lose Billions of dollars; it’s cool.”
People who use FB/IG wants to show their friends that they are active(outdoor) and doing well in life. That is the exact opposite when you put on the VR goggles and stay indoor.
As an owner of the quest 2, this is what happens when you abandon your core consumer base to chase a bigger one that never existed.
Even if they significantly improved it. There is a reputation they have to dig themselves out of, No man's sky and FF14 are very rare examples of an initial virtual product being salvaged. And the thing is there was no other product that could replace these at the time. The longer metaverse stays on the losing side the more time a competitor can launch a comparably better product, Zoom, teams, etc are companies with an integrated and developed communications platform and it only takes little imagination that they develop a virtual world.
There's FFXIV and then there's NMS
FFXIV is the exception to the rule, they dug themselves out of the reputation hole and rose to the literal top as the most popular MMO
NMS dug itself out of it's bad rep, but it's still a mild success at best
And this is not me taking a dig at NMS, this is just to illustrate that even if Meta suddenly got everything right they're still at risk of this not becoming big enough to sustain itself with the amount of money they're losing
NMS can afford to be a mild success, Horizon Worlds NEEDS to be the biggest thing ever
The funniest part is that I feel like almost any other company could have pulled it off, but Facebook had so little sense, and so little trust, that nobody wants to use their headset.
I usually don't enjoy seeing people fail but when it's the Zuck, I make an exception.
Expecting 500k within a month, on a system that is pricey, and not typically a prioritized system among most people is just a messy practice, Echo VR is being shut down because “only” 10k are playing, that’s a good number of them players to have for an online game that’s a couple of years old. It’s clear that meta has no idea of how people play games
Metaverse should be something like an escape of reality not a Cartoony version of real world. Meta tried to bring a metaverse that is regulated and a controlled environment (for obvious reasons) but then that is exactly why people ain't interested. Metaverse should be the Isekai we all liked
"Cartoony version"? More like dystopian version
People celebrate meta failing but if you think amount the amount of money wasted for nothing it's very depressing, with those billions we could've gotten very close to curing world hunger
Hunger will never be "cured", governs spend trillions and dont resolve this issue, is not a question of much money, is structural and relationship problems
@@RoyMatzem It's easy to solve world hunger but the rich profit off of the backs of starving orphans.
It's his money. I can suggest a person to not gamble, but it's his choice in the end.
At this point I just want Meta to sell their VR assets to a company that will actually focus on getting 1st party devs to make games for the headset instead of this silly direction.
maybe Valve?
@@majamystic256 id fukin love that. Can you imagine an Index in the form of a quest 2 or a quest 3 along with the ease of connecting via pcvr. Plus the support that Valve can bring in terms of vr game sales and drivers to keep it going.
This Meta VR shit might ended up becoming one of the biggest corporate fuckups in history.
VR Chat users: "Look at what they need to match even a fraction of our power!"
Man this is why I've lost all faith in humanity. Imagine all the lives you could change or the good you could do with almost 14 billion dollars but instead this is the sad reality of the world we live in.
Don't lose faith in Humanity over this, that's really weak.
If they lose money it's a fault on themselves not on Humanities part.
I mean the money isn't "lost" it was spent on something, paying salaries etc
@@lerbyn only communists ritualistically misattribute fundamental economics like value and labor theory (clearly lmfao)
I mean the money left the big corporation and went to paid workers/Contractors so it’s not what you said is wrong but the money didn’t disappear.
In my opinion the money is currently in better hands because of META’s poor recent decisions but probably still won’t be spent on helping anyone but those paid.
Still there is very few things over the last year that I’ve seen meta succeed at.
@The Full Metal Alchemist Well of course it's the fault of humanity. They only had untold billions to squander because a huge chunk of humanity used and supported Facebook. They didn't just conjur money from the shadow realm... we built them.
Meta Leadership: "We can't figure out legs! We can't keep people! We are burning 13.7 Billion and cutting jobs!"
VR Chat Users: "I've got a off the shelf gaming PC, and i've built my own cool world with unity and my own 3D avatar with working legs with Vroid..."
Meta Leadership: (ignores VR Chat exists) "So anyway, lets market to 13 year olds, they'll love this!"
They probably could have just bought VR Chat for maybe 500M and saved themselves billions. Not that that would have been a guaranteed success, but it sure would have been less of a clusterfuck. If I were a shareholder, I would seriously ask questions about why they didn't just do that.
Meta could have freaking ended world hunger with all that money they burned.
Twice in fact
The fact that Mark wants "1 billion people to be doing commerce in his metaverse" says it all.
NOBODY, and I mean NOBODY is interested in paying for another service they can already take care of by using something else they already pay for.
BS VR is NEVER going to replace vidoechat for the workplace, bosses want to be able to see their workers and confirm they are working rather than looking at what could very well be pre-recorded and assuming the best.
-
Also shoes that have laces will never be waterproof. No matter how much the water won't go through the material it will still slip in past the laces and tongue, not to mention down the sock from drenched pants.
And at a price point of $180 I wouldn't waste my time testing it. I could easily buy two or three other pairs of shoes with that money.
Corporation: "well we're loosing billions of dollars but luckily we did save a couple bucks after we're fired a large town worth of employees."
You can ignore reality but you can't ignore the consequences of ignoring reality.
That should be the motto of the so called "Reality Labs"
Is that why my life is in shambles?
I love how committed Zuck is to trying to make something work that almost nobody wants.
@@toututu2993 only because you end up paying for the Quest with your private information
@@toututu2993 quest 2 was not made by the meta it was just acquired when they acquired oculus, and the commenter is talking about the metaverse which mark suckondeez seems to be tirelessly throwing money at
These companies must be reeeeally rich, because according to these videos they keep losing billions each time, and still run strong.
Meta's a trillion dollar company, they are unlikely to go under on this dacade or even the next
VR has been the dream of John Carmack for years. If he quit this project, it says a lot about it.
There's no way billions are spent on meta with nothing to show in terms of development. There has to be an insane amount of embezzlement or money laundering
Facebook: we are going to shut down a game because 10,000 concurrent players is too little and doesn't bring in enough money
Also Facebook: We've lost over $10 billion because we tried to recreate the game Rec Room with less features
Anytime I think of VR’s association with facebook, I think of the nightmarish megacorp in Ready Player One.
Oh dear god the second book is even more dystopic. Uploaded mind copies of humans escaping a doomed Earth all while trapped in a perpetual 80's nostalgia simulation.
Its crazy to me a movie that good can exist and companies are still trying to be like that company for vr like what. aint no way were just letting it happen too no wonder VR wont be moving forward in the further. it doesn't have a chance to make it!
12:39 Translation: "Everyone must use and LOVE Horizin Worlds, because we NEED it to be a succes"