Overnight $1.5 trillion crash!Tech leaders criticize Meta’s first metasverse product: It’s not realistic

The metasomes concept has caught the market’s eye these days, but former Evernote CEO Phil Libin, after playing with Facebook parent Company Meta’s first metasomes product, said Meta’s vision of the metasomes was an “outdated idea” that was “not realistic.”
Phil Libin said in an interview: “You feel terrible before you play it, but you still expect as much as you can and expect to be surprised.After the experience, Libin said his hunch was right: “With only a few minutes to go, introducing VR into a meeting wasn’t as compelling as Zoom…If I go into a meeting with a giant plastic thing on my face, I’ll spill hot coffee all over the place.”In its fourth-quarter 2021 earnings report released last week, Meta reported a loss of more than $10 billion in its meta-universe business, which includes virtual reality, and the number of existing social media users shrank for the first time in its history.On Thursday, Meta’s shares plunged 26.4%, wiping out more than $240 billion in market value, the biggest one-day drop in U.S. corporate history.- THE END – Original title: Tech leaders criticize Meta’s first meta-universe product: It’s not realistic

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