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Mark Zuckerberg puts Metaverse project on the back burner

Mark Zuckerberg stepped on the brakes on MetaVerse, which he had high hopes for; He said the company’s priority is artificial intelligence.

As you know, Meta has been building its future plans on the dream of being the company that implements the MetaVerse project for a while. So much so that the company even changed its name from Facebook to Meta. Leading the efforts to bring this virtual world to life, Meta invests heavily in technologies such as VR glasses for this purpose. In particular, Mark Zuckerberg has pinned all his hopes on this project.

Mark Zuckerberg puts Metaverse project on the back burner
Mark Zuckerberg puts Metaverse project on the back burner

However, Zuckerberg’s enthusiasm for MetaVerse put the company in a very difficult time. During a financial crisis that deeply affected the entire technology world, Meta’s spending billions of dollars on a field for which there was no money, damaged the company financially. So much so that the company had to implement a very strict austerity policy. The company, which laid off 11 thousand people at the end of last year, announced that it will lay off 10 thousand more this month.

As you can imagine, Meta’s trouble with Mark Zuckerberg’s MetaVerse enthusiasm was not well received by investors. Despite all these pressures, Mark Zuckerberg, who did not give up his stubbornness for a long time, finally understood that the situation was bad, so he put the brakes on MetaVerse.

Mark Zuckerberg, who published a text describing the company’s strategy and future plans after the announcement of the layoffs of 10 thousand more people, mentioned MetaVerse only twice in this text of approximately 2,000 words. It did not go unnoticed that Zuckerberg put this project, which he did not let go of, to the background so much.

Following the latest trend in the technology world, Mark Zuckerberg emphasized that the company’s biggest investment from now on will be in artificial intelligence technologies. The company has started to work on integrating artificial intelligence technologies into each of its products. This sudden change in the company’s future plans shows that Zuckerberg could no longer be indifferent to the pressures and worsening financial situation and stepped back.

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