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Mark Zuckerberg's $47 billion metaverse bet will take at least a decade to be 'fully realized,' says Meta exec

Business Insider

Business Insider · 1y ago

Mark Zuckerberg's $47 billion metaverse bet will take at least a decade to be 'fully realized,' says Meta exec

According to Meta executive Nicola Mendelsohn, despite losses of nearly $50 billion, Meta is still investing significantly in the metaverse. Mendelsohn stated that it will take around a decade to achieve Meta's fully realized vision and highlighted investments in both AI and hardware for the metaverse. Meta's Reality Labs division has already faced accumulated losses of $47 billion since 2019. Mark Zuckerberg had previously clarified that Meta is not transitioning to AI, as the company remains focused on both the metaverse and AI.

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An academic analyzed everything Mark Zuckerberg said publicly for 20 years — but still doesn't feel like he knows him

Business Insider

Business Insider · 1y ago

An academic analyzed everything Mark Zuckerberg said publicly for 20 years — but still doesn't feel like he knows him

Michael Zimmer, a privacy and data ethics scholar, has created the Zuckerberg Files, a digital archive of Mark Zuckerberg's public comments. His aim was to understand the CEO's views on privacy, but the project expanded to track Zuckerberg's language, response to controversies, and the evolution of his company. Despite the extensive research, Zimmer still feels that he doesn't truly understand Zuckerberg. The documentary "Zuckerberg: King of The Metaverse" explores the extraordinary transformation of Zuckerberg's life and raises questions about whether we really know the Facebook-Meta boss.

Mark Zuckerberg reportedly got mad that someone at Sheryl Sandberg's wedding brought up his widely mocked metaverse avatar

Business Insider

Business Insider · 1y ago

Mark Zuckerberg reportedly became upset when his widely mocked metaverse avatar was brought up in conversation at the wedding of former Meta COO Sheryl Sandberg. The meme of Zuckerberg's avatar, which went viral for its low-quality appearance, led him to redesign it. Bloomberg reported that this incident made Zuckerberg question his PR team's representation of Meta's products and resulted in some members of the team being reassigned. Despite prioritizing AI, Zuckerberg still sees the metaverse as important for Meta's long-term goals.

Zuckerberg’s Metaverse gamble pays off with $201 billion fortune

Money Control

Money Control · 11m ago

Zuckerberg’s Metaverse gamble pays off with $201 billion fortune

Mark Zuckerberg's net worth has surpassed $200 billion for the first time, driven by the success of Meta Platforms Inc.'s share price. His net worth has increased almost six-fold in less than two years, making him the fourth richest person in the world. The shift from Facebook to Meta, along with investments in the metaverse and augmented reality glasses like Orion, has contributed to Meta's growth and improved stock performance. Meta has also made strategic moves such as cutting its workforce, investing in artificial intelligence, and introducing a share buyback program and quarterly dividend. Zuckerberg's public image has also evolved, with changes in personal interests and a desire to stay out of politics.

Mark Zuckerberg was once so detached from Meta's AI work, he wasn't sure which breakthrough Sundar Pichai was praising him for: Bloomberg

Business Insider

Business Insider · 1y ago

Mark Zuckerberg was once so detached from Meta's AI work, he wasn't sure which breakthrough Sundar Pichai was praising him for: Bloomberg

During a meeting in 2021, Google CEO Sundar Pichai praised Facebook's AI breakthrough to Mark Zuckerberg, the CEO of Meta. However, Zuckerberg was unaware of the accomplishment and requested a briefing on his company's latest work on AI as a result. This encounter sparked Zuckerberg's interest in the field, leading him to educate himself more about AI. Previously, Zuckerberg had focused on other initiatives, such as cryptocurrencies and the metaverse. Meta has now made AI its top investment priority, and the company has become a leading player in the AI race.

Facebook is turning 20. Now Mark Zuckerberg is figuring out what comes next for Meta.

Business Insider

Business Insider · 1y ago

Facebook is turning 20. Now Mark Zuckerberg is figuring out what comes next for Meta.

Facebook CEO Mark Zuckerberg has been in control since the company's founding 20 years ago. Unlike other tech giants, Zuckerberg has not yet passed off leadership to someone else. He is making long-term bets on the metaverse and artificial general intelligence (AGI), hinting at Meta's plan to develop AGI in a recent video. Despite concerns about the metaverse's potential, Meta's stock value has risen, and Zuckerberg's net worth has reached $142 billion. The company's Reality Labs division has accumulated significant losses, but Meta plans to continue investing. Only Zuckerberg can decide when to step down from his position.

Mark Zuckerberg kicks off Meta event on future of AR/VR investments

Economic Times

Economic Times · 1y ago

Mark Zuckerberg kicks off Meta event on future of AR/VR investments

Meta Platforms CEO Mark Zuckerberg opened the Meta Connect conference, where he is expected to provide updates on the company's plans for the metaverse. This in-person event is Meta's biggest of the year and comes after criticism from investors for extensive spending on the metaverse, leading to layoffs. The conference will focus on AI-powered virtual assistants and Meta's hardware devices. It is seen as a pivotal moment for Meta as it navigates the shift in investor interest from augmented and virtual reality to artificial intelligence.

Mark Zuckerberg fifth richest person in the world following surge in Meta share price

Economic Times

Economic Times · 1y ago

Mark Zuckerberg fifth richest person in the world following surge in Meta share price

Mark Zuckerberg has become the fifth richest person in the world as the share price of Meta (formerly Facebook) surges. This increase in wealth has propelled Zuckerberg's ranking among the world's wealthiest individuals.

Mark Zuckerberg's Meta loses $3 billion after Instagram, Facebook global outage

Livemint

Livemint · 1y ago

Mark Zuckerberg's Meta loses $3 billion after Instagram, Facebook global outage

Yesterday, Meta's social media platforms experienced a global outage that lasted for over 30 minutes, affecting billions of users worldwide. The outage resulted in an estimated loss of $3 billion for Meta. Mark Zuckerberg, the CEO of Meta, lost around $2.79 billion in a day, but still remains the world's fourth-richest person. The outage also affected WhatsApp Business, with approximately 200 reports of outages. During the outage, Elon Musk took the opportunity to take a jab at Meta. This incident follows Meta's strong financial performance in February, which increased Zuckerberg's net worth by $27.1 billion.

Mark Zuckerberg’s makeover: midlife crisis or carefully crafted rebrand?

TechCrunch · 1y ago

Mark Zuckerberg’s makeover: midlife crisis or carefully crafted rebrand?

The article discusses Mark Zuckerberg's evolving personal style and its potential impact on public perception of him and his company, Meta. It highlights how Zuckerberg's recent fashion choices have sparked curiosity and debate among the public, with some questioning whether he is trying to change his image. The author suggests that personal style is a form of communication and influences how people feel about a person. The article also touches on the significance of Zuckerberg's chosen phrases and symbols in his photoshoot, as well as his position as a tech celebrity. It concludes by noting that Zuckerberg's style transformation could potentially shield him from scrutiny amid controversies surrounding Meta.

Meta denied resources, fearing the Instagram’s success: Cofounder Kevin Systrom

Economic Times

Economic Times · 4m ago

Meta denied resources, fearing the Instagram’s success: Cofounder Kevin Systrom

Kevin Systrom, Instagram co-founder, testified in a federal antitrust trial that Meta, under Mark Zuckerberg, limited Instagram’s resources, perceiving it as a competitive threat. The government claims Meta's acquisition strategy aimed to maintain its monopoly by eliminating rivals. Systrom, contradicting Zuckerberg's assertion of investment, noted Instagram's insufficient growth support compared to Facebook. Despite praising Meta previously, Systrom argued Instagram's potential was curtailed, contrasting Zuckerberg's testimony on facilitating Instagram's growth post-acquisition.

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