Tech

Not all Meta employees share Mark Zuckerberg’s newfound obsession with the metaverse.

Why is it important: The meta is jumping headlong into something called the metaverse in hopes of taking its place in what could become a huge marketplace for digital goods and services. The problem is, she’s going through an identity crisis, and employees aren’t sure how their roles fit into the company’s new strategy.

The Metaverse is a contentious issue for many people, mainly because companies seeking to build it have different understandings of what it will entail. Experts who closely follow its development believe that it is very similar to the Internet – a technological evolution that will take years to fully materialize, and whose impact on our lives will become more obvious over time.

Many opinions and predictions about the Internet in its early days turned out to be surprisingly wrong. Some have rightly pointed out the dangers of a hyper-connected world in which information spreads rapidly. However, even the pioneers could not have predicted how deeply the Internet would penetrate almost every aspect of our lives.

Metaverse: what is it and why should you care?

The metaverse is just one of the many buzzwords in use today. Some see it as just a fancy term for virtual and augmented reality games. Still, it’s important enough for Meta CEO Mark Zuckerberg that he goes so far as to rename his company to signal he’s fully committed to the concept.

Zuckerberg wants his company to pioneer this hypothetical new space, but not everyone who works for him agrees with his vision that we will soon all be spending most of our waking time in the metaverse. According to a Business Insider report, some current and former Meta employees fed up with his newfound obsession and the chaos it creates in the company.

One executive who recently left Meta explained that “the only thing Mark wants to talk about” lately is the metaverse. In addition, the company is betting big on the idea with a $10 billion investment, and it is doing so at a time when other social platforms like TikTok are shrinking their user base.

Both investors and employees are concerned that Mark Zuckerberg’s Meta has reached a growth ceiling and is now experiencing an identity crisis similar to the Yahoos of yesteryear. On the one hand, people are excited about the possibilities. On the other hand, they are confused by the new direction and the sudden change in strategy. The company’s marketing is seen as smoke and mirror for projects that will take several years to complete, with details yet to be communicated to the respective teams.

Earlier this year Zuckerberg said investors that “while the direction is clear, our path forward is not yet clearly defined.” Investors seem to have mixed feelings about this, as Meta’s shares have fallen nearly 60 percent since the name change. Zuckerberg says we’ll be pursuing this new vision this year, so we’ll have to wait and see what happens. Polls so far show that there is some consumer interest in it despite how few people own AR/VR equipment.


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