Over $100 billion down the toilet and zuck is still one of the richest people in the world wtf?
Trillion is the new Billion.
100 billion must be in lost market capitalization, not real money, just like tesla is theoretically worth a trillion dollars, no one could recognize that money.
100 billion is a touch higher than I’ve read elsewhere, but evidently they actually spent $77 billion ‘real’ dollars:
https://finance.yahoo.com/news/mark-zuckerberg-threw-77-billion-143014208.html
Good god I figured it must have been wrong as it’s such a large amount of money. I wonder how much of that they borrowed and how much they paid in cash. They might be paying astronomical interest payments on all of that.
Just goes to show how we have all the wrong people in charge in the west, at every level from government to business from the ceo on down to middle managers. Zuck is case and point. Well, as someone else posted, this article about their failure has legs. Unlike his stupid metaverse, that no one seemed even slightly interested in from the start.
Yeah, they bought a modest, niche product with a likely viable business case, and then bet they could make it an everyman’s device for all their socializing and experiencing events like sports and music…
The people that actually wanted the device got to take a back seat to them chasing non-existent markets for it… Their aspirations so impossibly high that a niche device could no longer justify itself against the money spent chasing that non-existant market… So something that should have been for some VR nerds to be happy and sustain the business while the rest of the world shrugs and say ‘I don’t get it’ becomes an ‘Obviously this is a failure of a concept and no one should bother doing this’.
Classic case of yes men-ism. Everyone around zuck tells him he’s the greatest, smartest, infallible. He likely removed anyone from his life that was willing to tell him he was wrong. He is making money hand over fist, and believes it, he’s special, the laser light of all knowledge shines out of his ass, don’t look directly at it or you can go blind. So he gets an idea, tells his people how he thinks everyone could get into it, they all heartily agree, what a great idea zuck!
I bet if anyone did tell him it wasn’t, he fired or removed them from his life, and still hasn’t apologized or made amends about it too, and instead doesn’t hold any sort of grudge against the people that told him he was right despite knowing better and being too craven to tell the truth.
Bruh they definitely spent real money on developers and marketing.
The US economy has devolved from an economy where you gain money by making and selling things to an economy where investing in the stock market and then taking out loans on that stock to keep investing is a better way to keep making money. When was the last time someone rich became poor?
That is one of the ways they avoid taxes. They take out loans to pay old loans and to spend on the value of their investments at good rates, and since they never realize income they never pay taxes. I think interest is even tax deductible to a degree.
Bezos in 2020, a year his wealth multiplied obscenely, paid 600 dollars. Less than we did.
As per a couple of propublica articles they published around 2021.
The excellent article in question: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Dang, I pay more in taxes in a single paycheck than bezos did in a year.
He can afford to do it again and then again again. I guess the idea is to keep gambling in hopes of becoming the dominant comany in a massive industry.
Lol at all the companies who got rugpulled again because they trusted Zuck’s promises. Get rekt bozos.
I’m surprised that they are still trying to beat that dead horse at all. Haven’t they burned billions on it already, without chances of returns?
Meta Horizon Worlds is a giant unlicensed and unmoderated daycare.
So there are people parking their toddlers in a VR world?
The overwhelming majority of vr world users are children ages 7-14. There are almost no adults. The adults that are there are trying to interact with kids in an environment where there is zero supervision.
There’s a lot of VR chat communities that heavily self moderate that crap out so adults can actually enjoy games/social instances. This approach created a whooooole lotta Wild West space full of every IP stealing debauchery you can imagine, but like the early Internet also allowed for a ton of creativity and fun. Meta’s approach was to try to simply not allow anything that would be inappropriate for anyone ever to sanitize for corporate sponsors, leading to a sterile and soulless waste of time.
Utterly shocked which one has regular users creating and exploring.
Fun aside but I went into one of these heavily moderated adult communities on Meta and I was using a headset that was enterprise controlled so it had no personal meta account attached which meant I didn’t have an avatar.
When I showed up I appeared as a featureless grey avatar. I made a lot of friends until the moderator with a heavy southern US accent called me a hacker (because I was grey and featureless) and started genuinely freaking out and yelling.
A whole crowd gathered around me and some people were saying that I was a government agent (lol) and another suggested I was Russian. Anyways, they banned me for 7 days which sucked.
I went through a VR witch hunt because I was GREY.
The most funny thing about this is that they banned you for 7 days. No permaban for the russian government agent, just 7 days!
Yeah it makes the first experience with a Meta headset extremely awkward. You boot it up they and they really want you to go into these worlds. Okay, so I did. Immediately I’m bombarded by the sound of 20 unsupervised children raiding a virtual McDonald’s. Okay, maybe I should find an 18+ world and try that. This was also a mistake.
Palmer Luckey laughing his ass off while playing with his AR battle helmet
Luckey can rot in a shallow grave.
Fuck all of these people.
One more piece of bad news for VR
VR is doing fine. It’s a niche hobby for people like myself to feel like you’re inside of a game, movie, or porn. If you’re someone who does work on your own device, you can even work in VR.
The metaverse was a ridiculous idea, that is beaten by VRChat.
true
They made it for work too? TIL.
I guess the idea just didn’t have legs!
Don’t worry. The billions Zuck dumped into crypto and NFTs will pay for the billions he dumped into VR.
He’s a genius, dontchaknow.
I can’t imagine any single company licensing this stuff
I’m sure all the two people that were using it are devastated.
Oh you KNOW I had to be the robot.
Go Valve go. Screw Facebook/Meta, Google, Apple. I want the future of VR to be standard desktop Linux centric. The iOS/Android state of mobile is annoyingly restrictive compared to even Windows let alone desktop/server Linux
Watch Valve put Proton on phones. It’s going to be incredible.
Can you explain how it is bad?
Not all news are bad news
One more piece of bad news for VR.
OP claims that this particular piece of news is somehow bad.
It is not OP claiming that. It is the description from the link preview.
I would still like to see an explanation of why it is bad. Regardless of who will provide that explanation :)
I would still like to see an explanation of why it is bad. Regardless of who will provide that explanation :)
Because they have Occulus’ locked up in their basement and gimmick du jour is worse, now instead of just having a headset where you have to use their account and see ads for their shitty corpo vr chat every time you login you’ll have a mandatory llm paperclip learning your habits and shilling 24/7
Bad for Meta. They wasted a lot of time, money, manpower etc.
Also kind of bad for VR that they bought Oculus and buried it under a ton of stuff no one asked for and will likely kill it entirely for failing to be the everyman’s gateway to socialization like they strangely imagined it to be.
The true target market for Oculus is relatively niche, but probably could have sustained a more modest oculus. Meta’s demands exceed what that market can give them.
Biggest hope for VR future right now is Steam Frame.
They could have bought second life a hundred times over and at least had something that worked (albeit poorly).
I have a quest. I still hate meta.
My next headset won’t be from them, and I can’t wait for them to realize they don’t give a fuck about VR anymore and abandon it for another fad.
I won’t regret their “metaverse” one bit. Killing their game dev studios is an unfortunate collateral, but, again, if it means they go out of that business, GOOD.
But this time it will be totally different! They’ll learn to love our AI slop! Trust me, bro!
