FTX CEO dissects Mark Zuckerberg's intention to pump $10 billion a year into Meta
Zuckerberg's $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar of the Meta's Horizon Worlds virtual reality platform.
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Facebook's rebranding to Meta was Mark Zukerberg's latest attempt to retain his dominance in the social media world of Web3, specifically the Metaverse. Marking the end of Meta's year on rebranding, Sam Bankman-Fried (SBF), the CEO of crypto exchange FTX, shared his thoughts on rebranding and what it means. means for the future of Meta.
Zuckerberg's $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar for Meta's Horizon Worlds virtual reality platform. Later versions of Zuckerberg's avatar have been plagued by internet memes, although each new iteration has looked visually better than its predecessor.
According to Bankman-Fried, Facebook's growth was unaffected by new rivals such as TikTok. Instead, he argued that the business “stopped growing because there was no more room to grow.”
SBF suspected that the rebranding to Meta was a way for Facebook to improve its reputation through distraction. Additionally, this move would bolster Meta's narrative to generate high revenue if successful.
However, SBF pointed out "the Meta guidance wave" and how investors decided to spend $10 billion a year in the Metaverse. The intention to infuse $10 billion a year solidifies Zuckerberg's position as a Metaverse supporter p>
On a final note, SBF reiterated that Facebook had already won by becoming the largest social media network. "So what's the next step?" Start building Social Media 3.0,” SBF concluded.
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Zuckerberg's $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar of the Meta's Horizon Worlds virtual reality platform.
New
Facebook's rebranding to Meta was Mark Zukerberg's latest attempt to retain his dominance in the social media world of Web3, specifically the Metaverse. Marking the end of Meta's year on rebranding, Sam Bankman-Fried (SBF), the CEO of crypto exchange FTX, shared his thoughts on rebranding and what it means. means for the future of Meta.
Zuckerberg's $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar for Meta's Horizon Worlds virtual reality platform. Later versions of Zuckerberg's avatar have been plagued by internet memes, although each new iteration has looked visually better than its predecessor.
According to Bankman-Fried, Facebook's growth was unaffected by new rivals such as TikTok. Instead, he argued that the business “stopped growing because there was no more room to grow.”
SBF suspected that the rebranding to Meta was a way for Facebook to improve its reputation through distraction. Additionally, this move would bolster Meta's narrative to generate high revenue if successful.
However, SBF pointed out "the Meta guidance wave" and how investors decided to spend $10 billion a year in the Metaverse. The intention to infuse $10 billion a year solidifies Zuckerberg's position as a Metaverse supporter p>
On a final note, SBF reiterated that Facebook had already won by becoming the largest social media network. "So what's the next step?" Start building Social Media 3.0,” SBF concluded.
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