In today’s briefing:
- An Abandoned Meta(Verse)
An Abandoned Meta(Verse)
- “An estimated $100bn investment in an unknown future is super-sized and terrifying, even by Silicon Valley standards…the age of excess is over – big tech companies need to lose some weight and get into shape and earn the right to win the next major wave of innovation”.
- These were comments made this week by Altimeter Capital CEO and investor in Meta, Brad Gerstner, in an open letter to the Meta CEO Mark Zuckerberg regarding their $10bn a year investment in the metaverse.
- Meta, formerly Facebook, made a monumental pivot last year to capitalize on the explosive growth of the metaverse.
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