The company’s vice president shares that the hype around the meta-universe has died down, but sees the upside
The hype around the meta-universe is dead, but it’s good for Meta’s business.. He noted that the company has been investing in virtual reality technology long before the hype (Meta absorbed virtual reality glasses developer Oculus back in 2014).
The company has been investing in virtual reality technology since before the hype (Meta absorbed virtual reality glasses developer Oculus back in 2014).
Watch the latest cryptocurrency news, video reviews, handy tips, guides and interviews on BeInCrypto’s YouTube channel. […] We didn’t invest [in the technology] for hype, we’ve been investing in the space for years,” Shah said.
And we’ve invested in the space for years.
At the same time, Shah is personally “very happy” that the hype is over. The company can now focus on developing sophisticated technologies, he said. What prevented Meta from doing this amid the hype is unclear. According to Exploding Topics, ChatGPT’s user base has grown to 100 million people as of 2023. And the chatbot is used more than a billion times each month.
Meta, for its part, doesn’t come close to boasting similar results.
Meta, on the other hand, doesn’t come close to boasting similar results. Those who have tried virtual reality from Meta say the company is incapable of fully realizing Mark Zuckerberg’s vision given the current technology.
In March 2023, as the meta-universe hype wore off, Zuckerberg announced that artificial intelligence was the company’s new priority. Before that, the company laid off tens of thousands of employees, and the cost of creating a questionable meta-universe exceeded $5.5 billion.
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