Y’all really made Mark Zuckerberg defend himself to investors because of your memes • TechCrunch

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On today’s quarterly earnings call, Meta founder and CEO Mark Zuckerberg was on the defensive when it came to the company’s investment in the metaverse. Once again, the company lost more than 3 billion dollars to its Reality Labs division this quarter, and Meta’s net income was a hit.

Since rebranding from Facebook to Meta, Zuckerberg has gained a lot of volatility due to its complete landing in the metaverse. But perhaps one of the wildest moments came in August, when he was CEO Post a selfie In front of the Eiffel Tower metaverse to celebrate the expansion of the VR social platform Horizon Worlds in France and Spain.

Image credits: Facebook

His selfie looked so bad that it became a meme, and he had to address it by posting another mock-up of what the avatars would look like in the future.

Mark clearly took this criticism very seriously, bringing it up again on today’s earnings call when he asked an investor if Meta’s progress so far lived up to his expectations.

“I know sometimes when we ship products there is a meme where people say, ‘You’re spending all this money making this thing,'” Zuckerberg said. “I think that’s not really the right way to think about it.”

He continued, “I think there’s a number of different products and platforms that we’re building where we think we’re doing ground-breaking work that’s going to be…releasing consumer products and then eventually maturing products at different rhythms, different timeframes. The next five to 10 years.”

Some of these consumer products include… legs.

He added that he believes the Reality Labs teams are making good progress, and that there is no indication that VR and AR will not be dominant technologies in the future. But he changed the way he described products like Horizon Worlds, calling it something that Meta builds in public and replicates in public.

“It clearly has a long way to go before it is what we aspire to be,” Zuckerberg said of Horizon Worlds. “We think we’re doing some groundbreaking work there, but we obviously need to bring that into the product and keep innovating on that.”

However, Zuckerberg continues to show confidence that the billions of dollars that Meta is pouring into virtual reality is a good idea. “A lot of people would disagree with this investment,” Zuckerberg said. “But from what I can tell, I think this is going to be very important, and I think it would be a mistake for us not to focus on any of these areas, which I think are going to be fundamentally important for the future.”

Zuckerberg seems more human than usual when he points out that virtual reality and augmented reality are two great opportunities for growth in the tech industry. But Zuckerberg Vision for the metaverse – which we constantly get stuck in our headphones – is still a little hard to swallow. The Quest 2 It’s actually a great piece of technology, and The next consumer-grade headphone It sure would be better. Already in Quest 2 you can play Very realistic ping pong game With friends from all over the world and talk to them as if they were standing next to you! But do we really want to spend nine to five With a giant screen directly against our eyeballs? Would we rather spend time in Horizon Worlds than grab an IRL coffee with a friend? Not me at least.

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