When Mark Zuckerberg had the idea to embrace all of his digital platforms (Facebook, Instagram and WhatsApp) in one he did this by directing his eyes to the future of technology. It inevitably goes through artificial intelligence and, for the moment on a tangent, through metaverse.
Maybe that’s why he chose a name like Meta for this new company, into which he put practically everything he had. Now, two years after changing the name and direction of the company, we are beginning to learn some information about how much money did the decision cost Zuckerberg.
((H3: “Catastrophe” 2021 and 2022))
2021 was the year Facebook was renamed Meta. However, he was also one of the the worst years the company can remember. The scandal caused by the trial of Frances Haugen, who released incriminating documents to the press about inappropriate actions at Facebook, added to the very absurd generalized downfall of all social networks Meta (Facebook, Instagram and WhatsApp) caused a drop in the value of shares on the stock market by almost 5%..
A failure that cost Zuckerberg 5,165 million euros in value to 105,039 million euros. But all this was just a preview of what was to come 2022 year. in that year Meta’s share price from $306 in December 2021 bottomed out at $90 on November 4, 2022.
That drop was the largest among exclusive members of the Bloomberg Billionaires Index, which Its assets fell to $55.9 billionhalf of what it currently has ($106.6 billion).
Recovery with losses
In 2023, the company achieved an almost miraculous recovery, returning to a stock market value of about $300 per share. However, its financial results for the first quarter of this year speak for themselves: They closed the year with losses of 3,992 million dollars.
This caused some pessimism among investors who They question whether they should accompany Matt in his transition to virtual reality or bet on new platforms. However, it doesn’t seem that Mark Zuckerberg is particularly worried.
The first sample of the metaverse
Recently participated in a podcast published on a popular channel youtuber Lex Friedman. In this episode, the two had an hour-long conversation, during which both could be seen naturally talking to their virtual avatars thousands of kilometers away using the Meta Quest 3 virtual reality glasses.
And that’s it so far the metaverse seemed like an absolute failure. However, Zuckerberg’s dream of creating a virtual environment where humans and artificial intelligence can interact in a common way has already shown its first and promising version. According to Bloomberg, this dream is gradually coming true cost his company $21 billion.
