Mark is willing to overlook the walls coming down around him because he believes that we will all be socializing and working together inside a corporate metaverse.
After the company's earnings report disappointed investors, the company's stock plummeted to its lowest levels in over a year.
"We've been through a couple of these cycles before, and I'm pretty confident this is going in a good direction," he said during the call.
While we continue to navigate some challenging dynamics, including a volatile macroeconomy, increasing competition, ads signal loss, and growing costs from our long-term investments, I have to say that our product trends look better from what I see.
The CEO billionaire was likely alluding to a growing mountain of bad press and criticism, from embarrassingly terrible selfies to a disappointing and lackluster headset.
It's clear that Meta is in a bad state right now, and that's due to the fact that the general public hasn't been interested in virtual reality.
Despite spending billions of dollars on a virtual future, Meta has very little to show for it.
"Look, I get that a lot of people might disagree with this investment, but from what I can tell, I think this is going to be a very important thing in the future," he said. The importance of the work being done here will be talked about in a decade's time.
It's not clear if that work will have a chance to come to fruition within that time frame.
According to a leak, most Facebook Metaverse Users have quit in a month.
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