Synopsis
Some consider the metaverse to be tech’s next big thing. Mark Zuckerberg wanted to dominate it. So, Meta spent USD10 billion to try and develop and, therefore, dictate what Zuckerberg calls the “holy grail” and the “future of the Internet”. But did he err in betting too big too soon?
It’s autumn in Silicon Valley. The leaves are falling off not just the trees but from Meta’s giant dreams.The contrast in the stock price around its last two annual developer conferences, usually held in October, is testimony enough.2021: Facebook renamed itself as Meta, in tune with its ambitions to dominate Metaverse. The company stock traded at USD316.92.2022: The stock tumbled by 24%, and the company is now trading at USD97.74, the lowest
BY
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
Why ?
![]()
Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors
![]()
Stock analysis. Market Research. Industry Trends on 4000+ Stocks
![]()
Clean experience with
Minimal Ads![]()
Comment & Engage with ET Prime community ![]()
Exclusive invites to Virtual Events with Industry Leaders ![]()
A trusted team of Journalists & Analysts who can best filter signal from noise
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
