In fact, my deep distrust of Zuckerberg, coupled with my knowledge of what augmented reality and VR technology can do, is what’s making me view Meta’s mission differently than others. But I think many of the people spiking the football over his obsession with the metaverse are exaggerating when they frame it as an outright calamity. You’d be hard-pressed to find someone more eager than me to dunk on Zuckerberg. Like with social media, we need policies to protect the VR space from abuse and manipulation. By which I mean: Don’t get so confident Zuckerberg’s plan will fail that you neglect to think about what happens if it doesn’t. And particularly to those who don’t obsess over this technology and its implications, it sounds surreal.īut I do obsess over this technology, and I have a warning for all of us when it comes to Meta’s seeming plunge: Don’t hate regulate. Meta also announced a $US40 billion share buyback scheme, coming off the back of a 13 per cent – 11,000 employee – round of layoffs.Meta, the name created for the apps and technologies company last year, is a testament to this commitment: a reference to the virtual world - the “metaverse” - accessible through this headset. Sales fell 4 per cent to $US32.2 billion ($46.5 billion), but that was ahead of analyst estimates. Shares in the company surged 24 per cent to $US189.54 despite the company posting a third straight quarter of declines in revenue. He described 2023 as the “year of efficiency”. Mr Zuckerberg has spent tens of billions of dollars trying to build a metaverse – a digital world in which people can work and play, and while he insisted that was still a priority, he spoke more prominently about artificial intelligence in an earnings call on Wednesday. Bloomberg reports: At a company-wide virtual meeting Thursday, Zuckerberg explained that the historic stock drop was a result of Meta's weak forec. Chief Executive Officer Mark Zuckerberg rallied his employees to focus on video products, after they watched the stock lose a quarter of its value. The shift in strategy comes all the way from the top. Meta Chief Executive Officer Mark Zuckerberg rallied his employees to focus on video products, after they watched the stock lose a quarter of its value. Most of each of those access Facebook on their mobile phones.Ī staggering 3.7 billion people use one of Meta’s services – Facebook, Messenger, Instagram and WhatsApp – every month, and 2.9 billion each day. Zuckerberg tells staff to focus on video products as Meta’s stock plunges Facebook loses a record 251bn of value in a single day. When brands stopped spending for a year or more, “sales fell 16 per cent after one year and 25 per cent after two years on average” Meta said, citing 2018 research from Australian marketing science centre, Ehrenberg-Bass Institute.įacebook boasted it had more than 18 million Australian users who accessed the platform each month, and more than 15 million of those log on every day. His red, teary eyes were the result of a scratched cornea. It said keeping costs down as much as possible was important for brands, adding that Meta’s ad products had fallen in price between Q2 2021 and Q2 2022. Zuckerberg tells staff to focus on video products as Meta’s stock plunges Facebook loses a record 251bn of value in a single day. META META PLATFORMS-A 285.29 USD -1.76 -0.61 Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news. “We need to maintain a growth mindset,“ execs declared in the slideshow, seen by The Australian Financial Review. It was “less focus on the metaverse and more on the now”, according to those present. Presenting to staff at the Sydney offices of media agency Carat, Meta’s representative presented a slideshow with a montage of headlines warning of a recession. Meta representatives speaking to media agency Carat in Sydney. Facebook’s parent company, Meta, had a simple message for advertisers this past week: “We’ve changed”.Īfter a horror year for tech firms that saw Meta’s share price plummet from $US338 to just over $US120, increasingly stiff competition for revenue from TikTok, and what chief executive Mark Zuckerberg called “headwinds” in the form of privacy changes from Apple, the company says it has turned a corner in 2023. Less mucking about in the metaverse, more focus on results and revenue.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |