Opinion
Metaverse a black hole, but Zuckerberg had a surprisingly good year
He may have renamed Facebook and committed billions of dollars, but Mark Zuckerberg cannot force us to care about the metaverse. Meta’s AI experiment, however, proved more successful.
Elaine MooreThere is a good chance that by the end of this year, Meta’s grand experiment in virtual reality will have racked up more than $US50 billion ($75.3 billion) in operating losses. It is a shocking tally. Yet it has largely side-stepped attention.
Against the odds, 2023 has been pretty good for Mark Zuckerberg’s social media company. Meta has carved out an important place in the artificial intelligence pantheon by opting to share its work – democratising generative AI while everyone else tries to hoard it. Digital advertising has recovered, lifting revenues. The share price is surging back towards a record high.
Financial Times
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