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TL;DR
Meta’s metaverse division, ‘Actuality Labs,’ posted $3.7 Billion in working losses (simply within the final 3 months).
However, Zuck mentioned the corporate has no plans to halt growth of the metaverse.
Work looks as if an excellent use case for the metaverse – a spot the place individuals can go from anyplace on the planet, with a transparent cause to be there, for 8ish hrs, 5 days each week?
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Rattling. Did we simply agree with Zuck? That is perhaps a primary for us.
Seems we have now some comparable views in relation to Web3 and AI.
It’s Q2 earnings time, and it was Meta’s flip to debate their second quarter outcomes on Wednesday.
The outcomes look fairly tough at first look – Meta’s metaverse division, ‘Actuality Labs,’ posted $3.7 Billion in working losses (and keep in mind, that is only for the final 3 months).
(Oooooft!!)
However right here’s the place the excellent news (for Web3) is available in, and why we could also be extra like Zuck than we thought.
Whereas he admitted that’s an enormous loss, Zuck mentioned the corporate has no plans to halt growth of the metaverse.
“As our investments in AI proceed, we stay absolutely dedicated to the metaverse imaginative and prescient as properly… We have been engaged on each of those two main priorities for a few years in parallel now, and in some ways the 2 areas are overlapping and complementary.”
Now right here’s a quote from a bit we wrote a couple of week in the past:
Of late, we have been forcing ourselves to take our ‘blockchain-die-hard’ hats off, and take an goal have a look at which applied sciences will outline the third technology of the net.
This is our guess at what’s going to outline this ‘new technology of the web’ that all of us discuss with as ‘Web3’:
Blockchain (as infrastructure)
AI (powering software program and platforms)
Augmented/Digital Actuality (as a computing medium)
Spooky proper?
What’s essential right here is that Meta’s funding into Web3 is a optimistic signal for the area on the whole.
It is perhaps a scorching take, however work really looks as if an excellent use case for the metaverse – a spot the place individuals can go from anyplace on the planet, with a transparent cause to be there, for 8ish hrs, 5 days each week?
Mix different associated applied sciences like AI and VR – and hey, it simply is perhaps the subsequent evolution of labor.
Nice to see Zuck’s dedication to the imaginative and prescient (even when his metaverse nonetheless kinda sucks)🔮
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