Mark Zuckerberg expects the metaverse to be the primary platform by 2030
Meta CEO Mark Zuckerberg believes the Metaverse will usher in a “very exciting 2030s.”
One of the world’s richest men has a purely ambitious plan for the future of work and play: a new, interconnected social computing platform for business enterprise, consumer entertainment, and interactivity that streams directly to proprietary hardware. It’s called the “metaverse,” and Meta is investing heavily in what it believes will be the main platform for the next decade.
When asked about investments in the Metaverse, Zuckerberg said that Meta’s high spending is the result of fundamental spending for the Metaverse, and that the business is for the long haul: “Maybe it’s mostly laying the groundwork for what I expect to be a very exciting 2030s, when it’s kind of more established as the primary computing platform at this point. I think there will be results along the way for that too. But I think it will be a longer cycle.”
Meta’s recent financial statements show that it has invested $7.8 billion in R&D, much of which is used to fund its platform and hardware metaverse ambitions.
The bet is long term and shows no signs of paying off anytime soon. Meta’s Reality Labs segment, which includes VR and AR technologies, posted a loss of $2.96 billion in the first quarter.