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Why Facebook is spending billions on the metaverse

johncoogan.com

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Re: Why Facebook is spending billions on the metaverse

#51

Post by adolph »

krm01 wrote: post #9

As I was watching their 'keynote' I couldn't help but wonder about the many companies that took a similar approach and then died. Spending a ton of money on something doesn't make it automatically successful. [1] In fact, history has shown the opposite to be true. Take Facebook itself for example, it succeeded, not because it poured Billions into building its social network. Mark built something small, for a small ma…

If you haven't seen it yet, you might appreciate this slide deck about how organizations are like slime mold.

Slide 57 main image "0.60=0.95^10", text "And thanks to that non-linearity, even a small decline in individual likelihood [of success] leads to a much lower overall decline in the likelihood of success."

https://komoroske.com/slime-mold/

Re: Why Facebook is spending billions on the metaverse

#52

Post by bduerst »

enlyth wrote: post #8
littlestymaar wrote: post #3

Because Facebook is now a social network used mostly by people from 40 to 70. They aren't trendy anymore, and most of the Facebook-related press headlines in the past 5 years have been about privacy or advertisement scandals. They are in desperate need for some good PR if they want to restore their brand name.

Except everyone young still uses Instagram

More Gen Z use TikTok than Instagram, and it's shifting even more that way.

Re: Why Facebook is spending billions on the metaverse

#53

Post by tsywke44 »

littlestymaar wrote: post #3

Because Facebook is now a social network used mostly by people from 40 to 70. They aren't trendy anymore, and most of the Facebook-related press headlines in the past 5 years have been about privacy or advertisement scandals. They are in desperate need for some good PR if they want to restore their brand name.

This. and also, they’ve run out of countries to grow users from.

All the 3rd world countries now have internet and smartphones, there is no billions of unconnected people remaining who Facebook can give free internet access to.

The only way for them is downwards unless they radically change things. The metaverse is kinda a hail mary

Re: Why Facebook is spending billions on the metaverse

#54

Post by 2OEH8eoCRo0 »

krm01 wrote: post #9

As I was watching their 'keynote' I couldn't help but wonder about the many companies that took a similar approach and then died. Spending a ton of money on something doesn't make it automatically successful. [1] In fact, history has shown the opposite to be true. Take Facebook itself for example, it succeeded, not because it poured Billions into building its social network. Mark built something small, for a small ma…

There's a ton of money and there's a ton of money. Facebook has a ton of money to spend. Whether they succeed or fail is anybody's guess but this kind of investment can't help but move the needle on AR/VR tech.

Re: Why Facebook is spending billions on the metaverse

#56

Post by rvz »

> Facebook wants to build something so fundamental to the metaverse that they can capture that iPhone moment. And if they succeed, the billions they’ve invested will look like pennies.

Precisely and that is going to be the smart glasses. Take this for example: [0] Magic Leap is simply General Magic for the smart glasses and the talent is going to the big tech giants.

Whoever executes the hardware and software ecosystem for the smart glasses wins. Probably it will be a race between Meta, Apple, Google or Microsoft.

Unsurprisingly, the Metaverse is 'Meta's' and several other metaverse-related companies's 'App Store' for their smart glasses.

[0] https://www.protocol.com/who-is-hiring-magic-leap-employees

Re: Why Facebook is spending billions on the metaverse

#57

Post by martindbp »

krm01 wrote: post #9

As I was watching their 'keynote' I couldn't help but wonder about the many companies that took a similar approach and then died. Spending a ton of money on something doesn't make it automatically successful. [1] In fact, history has shown the opposite to be true. Take Facebook itself for example, it succeeded, not because it poured Billions into building its social network. Mark built something small, for a small ma…

Well, it depends. Let's say this was 1990 and IBM instead of Facebook deciding that the internet is clearly the future and invest billions into it. Could have been the right move. They're betting on AR and VR as a medium, and I wouldn't bet against that long term. The question is if they can actually make something useful. Even if you know something will be successful it's still hard to find a way to capitalize on that. Your timing could also be years off. It was hard to foresee a search engine being the most valuable internet company.

Re: Why Facebook is spending billions on the metaverse

#58

Post by ben_jones »

The whole Meta thing is just a 1-2 year distraction to keep the stock price up while Facebook figures out its real existential problems. Maybe it sells some more VR units great, but it keeps Facebook at the forefront of "hard technical innovation" "new age social media" and has other tech giants rushing to "keep up".

Solid distraction, 7/10.

Re: Why Facebook is spending billions on the metaverse

#59

Post by ngokevin »

ilaksh wrote: post #2

Check out this system for (open) declarative multiplayer VR https://github.com/networked-aframe/networked-aframe

Nice to see this as the first comment. Not working in VR currently. But as one of the creators of A-Frame and formerly was in YC doing a VR + Metaverse attempt, AMA.

Re: Why Facebook is spending billions on the metaverse

#60

Post by annexrichmond »

cletus wrote: post #44

Facebook thinks about social networks in two dimensions: 1. Audience size (eg 2. Format (eg text, images, video, VR, AR). You can go through the exercise of placing every social network on this grid and there are gaps. Implied in this is a progression in formats and we've certainly had that from text to images to video. In this framework, the acquisition of Oculus makes more sense. I personally question the premise t…

Yeah one thing that’s puzzling to me about FB’s bet is that Oculus should be a litmus test for the consumer interest in this stuff and afaict it hasn’t really took off. If Oculus isn’t particularly realizing huge growth, why would the Metaverse?
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