The Metaverse project will make Meta lose money over 5 years, Zuckerberg said

The desire of Meta Chief Executive Mark Zuckerberg, is at the forefront of creating the metaverse, the digital world of business. And to get away with the plan, the group (which has Facebook, Instagram and WhatsApp) will lose money over the next three to five years.

Estimates of “significant” financial losses were made by the executives themselves during an annual meeting with officials, held Wednesday (25), according to a Bloomberg report.

lose money to win

the speech of Zuckerberg was given when an official asked about the return on investment that Meta would receive on the project.

ny conglomerate de Zuckerberg it even announced plans to invest $ 150 million in training programmers who can build virtual environments that will be used in this parallel world.

Despite the potential losses, executives highlighted during the meeting that the project will bring benefits when people build businesses and sell virtual goods and services.

“We want all devices to be as accessible as possible and to ensure the growth of the digital economy,” Zuckerberg told officials.

To make this a reality at an immersive level and at an affordable price for consumers, the technological challenges are enormous. So it requires a lot of investment – and time.

According to information from the Meta board, many of the products designed for the metaverse, which will engage users 100% of the time, may not be viable for the next 10 or 15 years.

The company’s current goal to generate revenue is to invest in the Reels short film service, the executive said at the meeting.

Troubled with the metaverse?

In a report in Business Insider, company executives said Zuckerberg was so happy and involved in the process of building the metaverse that he became frustrated.

“[É] the only thing Mark wants to talk about, ”said the former employee, who recently left the company, according to the report.

It is estimated that Meta will spend $ 10 billion (about R $ 48 billion, at current rates) in 2021 alone considering its metaverse.

The company also already has 10,000 employees focused on this project alone – and Zuckerberg wants to double the size of the team.

However, this expansion plan should take a little longer, as Meta put in place a plan to suspend hiring earlier this month.

Distributor suggestions were made

During a meeting of participants, Mark Zuckerberg rejected 12 proposals. One called on the company to report and publish a vote by board members if it was “prudent and appropriate.” for the group to continue applying the metaverse.

Other rejected proposals included changes to the use of secret codes in employment contracts related to harassment and discrimination, the publication of an independent human rights impact assessment, and full disclosure. the Meta movement on lobbying and public policy, according to the website Business Insider.

During 2021, Facebook once again faced criticism for the way it handles content control, especially after complaints from former director Frances Haugen, who expressed dissatisfaction with her own employees about how the profits would be put. above the safety of its users. .

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