Meta remains focused on developing the metaverse despite incurring a $47 billion loss.

One of the most noteworthy changes in the tech landscape this decade has been Facebook’s sudden rebranding to Meta. Despite CEO Mark Zuckerberg’s claim that the company was shifting its focus to the metaverse, it hasn’t gained momentum in subsequent years.

It’s important to note that Meta has reportedly lost around $47 billion on this project since its launch in 2019. Despite this, Mark Zuckerberg is pushing forward with the plan, even though AI has dominated the industry and provides more realistic value for shareholders.

In discussions with investors, Zuckerberg denied that the company was abandoning the metaverse for AI. Instead, the company plans to focus on both niches simultaneously.

However, updates on the Metaverse have been met with widespread ridicule. When Zuckerberg shared an image of his metaverse avatar in front of the Eiffel Tower, users noted the low quality graphics and incomplete avatar.

According to Bloomberg, the designer of Zuckerberg’s metaverse likeness experimented with 40 different versions before settling on the one that was unveiled. Despite the significant effort, it failed to impress anyone, suggesting that the company is wasting resources on a failed endeavor.

Nicola Mendelsohn, the head of Meta’s global business group, stated in a recent interview with CNBC that the company’s vision for the metaverse will take at least a decade to pay off. Until then, Meta will likely continue to lose money, although they are also investing in AI.

The final version of the metaverse, when released, will either defy expectations or potentially sink the company. While Zuckerberg strongly believes in the idea, shareholders might start to take issue with his narrow approach to the expensive project.

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