The real problem here is the memtaverse. This is a solution to a problem no one has and it's costing a vast amount of money for, well, nothing really.
Why does it exist? Simple. Meta needs a new monopoly since FB usage is declining and IG is getting eaten alive by Tiktok. Messaging (ie FB Messenger, IG Direct, WhatsApp) is not enough.
Meta has long seen VR then AR as the natural evolution from text -> image -> video. I think it's clear that the VR part of this at least is in error. Personaly I see VR as never being anything more than a niche. Somehow spending $20B+ a year on that without any kind of product-market fit or a vision for what problem this will solve for people is the problem.
AR is way more likely to have a future but the tech isn't there yet and there are doubts it'll be anything more than a niche either. This is a deep topic but projecting things onto real vision isn't exactly simple. Even something as simple as the color black is a problem. Focus is another giant problem.
For anyone surprised how a project can spend billions without producing anything, this is classic big company poorly defined project type stuff. A project will expand to fill available resources. Writing a blank check just increases the head count. It doesn't produce more just because you have more head count. People without clear direction will invent fake work for themselves. They'll solve non-problems, creates frameworks, add processes and so on as necessary.
Why does it exist? Simple. Meta needs a new monopoly since FB usage is declining and IG is getting eaten alive by Tiktok. Messaging (ie FB Messenger, IG Direct, WhatsApp) is not enough.
Meta has long seen VR then AR as the natural evolution from text -> image -> video. I think it's clear that the VR part of this at least is in error. Personaly I see VR as never being anything more than a niche. Somehow spending $20B+ a year on that without any kind of product-market fit or a vision for what problem this will solve for people is the problem.
AR is way more likely to have a future but the tech isn't there yet and there are doubts it'll be anything more than a niche either. This is a deep topic but projecting things onto real vision isn't exactly simple. Even something as simple as the color black is a problem. Focus is another giant problem.
For anyone surprised how a project can spend billions without producing anything, this is classic big company poorly defined project type stuff. A project will expand to fill available resources. Writing a blank check just increases the head count. It doesn't produce more just because you have more head count. People without clear direction will invent fake work for themselves. They'll solve non-problems, creates frameworks, add processes and so on as necessary.
Disclaimer: ex-Facebooker.