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Zuckerberg Bet Big (and Maybe Got the Metaverse Very Wrong)

Mark Zuckerberg is beginning to see the light.

The Meta Platforms (HALF) CEO has been having a rough time since he turned his attention toward the metaverse, a network of 3D virtual worlds.

He went so far as to change his parent company’s name to Meta Platforms from Facebook. He then bought the Oculus Quest VR headset, rebranded it Meta Quest, and formed Reality Labs solely to work on all projects related to the metaverse.

But the metaverse has so far proved a costly venture.

Meta’s shares and market value have dropped and Zuckerberg’s personal fortune has shrunk, falling from $ 125 billion in January to $ 49.1 billion at last check, putting him No. 23 on the Bloomberg Billionaires Index.

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