Dec 4 : Meta is expected to make budget cuts of up to 30 per cent for its metaverse initiative, Bloomberg News reported on Thursday, citing people familiar with the discussions.The Facebook parent's shares rose 4 per cent as the move eased some investor jitters over a bet that CEO Mark Zuckerberg has backed w
Sunk cost at this point lots of large companies bought space when it was “launching”
Imagine how much value would have been created if the several hundreds of billion spent on the shitty VR sims went to wages, or taxes, or healthcare.
But no. We should all marvel at the efficiency of the oligarchy!
It’s actually insane to think about what could have been accomplished with the capital investment that has collectively gone into generative AI, public ledger blockchain, and metaverse VR projects. IIRC its over a trillion dollars. There are credible plans for more or less ending world hunger for under ten billion. Yeah, those plans come with a ton of asterixes, but the point is, if that’s what ten gets you, imagine what you could do with a hundred billion? Now think about what a trillion could do. It’s honestly sickening.
A lot of those plans very much in the “assume a spherical chicken in a vacuum” territory. They only work on paper, and tend to assume things like criminal gangs are randomly just sort of going to get out of the way and not interfere. Also there are no corrupt government officials, and the people you are trying to help actually recognise that, and respond positively.
Yes, and I feel like I addressed that with “…those plans come with a ton of asterixes…”