In Episode 127 of My Metaverse Minute, Kieron examines the massive Q2 losses of Meta and wonders if the company didn’t make a mistake aiming to bridge the Web2 and Web3 gap with existing products.
00:08 — Meta’s Metaverse division posted Q2 operating losses in the amount of $2.8 billion. Critics suggest Meta’s aims are overly expensive and not viable.
00:48 — One of the counteractive measures Meta aims to employ is to raise the price of its VR headset by $100.
01:06 — Meta’s initial losses were once viewed in a positive light, as those losses represented an encouraging commitment to the Metaverse. The latest figures suggest a potentially catastrophic mistake on Meta’s part, trying to bridge the gap between Web2 and Web3 products.
01:41 — Companies stepping into the Metaverse need to do so with fresh eyes; not with an existing product or by attempting to raise the price of existing hardware to balance the books.
02:06 — Rebranding as a new company doesn’t appear to be paying off for Meta, at least in its early stages.
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