Meta’s VP of Metaverse, Vishal Shah, has declared that the hype surrounding the metaverse has died down. However, Shah sees this as an opportunity for his team to focus on the ambitious project without distractions. Speaking at Fortune’s Brainstorm Tech live conference, Shah acknowledged the trough of disillusionment that followed the metaverse hype cycle but emphasized that Meta has been investing in this space for years, not just for the hype.
For those unfamiliar with the concept, the metaverse refers to a virtual world of connected digital experiences accessible through a headset, where people can simulate reality, work, socialize, shop, and enjoy entertainment. Shah explained that the development of the metaverse will not be an immediate transformation but an iterative process that spans several years.
Despite Meta’s CEO, Mark Zuckerberg, being a strong advocate for the metaverse and rebranding the company as Meta to reflect this vision, the metaverse and virtual reality (VR) efforts within the company have faced scrutiny for financial losses and internal doubts. According to The Washington Post, only 26% of Meta employees surveyed expressed confidence in Zuckerberg’s leadership after the pivot towards the metaverse. The flagship metaverse app has also reportedly encountered quality and performance issues.
Notably, Meta is facing competition in the metaverse space with Apple’s recent announcement of the Vision Pro headset. Apple has chosen to use the term spatial computing instead of metaverse, citing the latter’s lack of understanding among the general public. Meta CTO Andrew Boz Bosworth defended the term metaverse in an Instagram Q&A, comparing its initial confusion to that surrounding the word internet.
Despite the challenges and skepticism surrounding the metaverse, Meta remains committed to its development. The company is now able to concentrate on building this ambitious project without the distractions of hype. Shah’s declaration that the metaverse hype is dead reflects Meta’s long-term investment and dedication to realizing this virtual world of connected experiences.
Frequently Asked Questions (FAQs) Related to the Above News
What is the metaverse?
The metaverse refers to a virtual world of connected digital experiences accessible through a headset, where people can simulate reality, work, socialize, shop, and enjoy entertainment.
What did Meta's VP of Metaverse, Vishal Shah, claim about the metaverse hype?
Vishal Shah declared that the hype surrounding the metaverse has died down.
How does Vishal Shah view the decrease in metaverse hype?
Vishal Shah sees the decrease in metaverse hype as an opportunity for his team to focus on the ambitious project without distractions.
What did Vishal Shah emphasize about Meta's involvement in the metaverse?
Vishal Shah emphasized that Meta has been investing in the metaverse space for years, not just for the hype.
How does Shah describe the development of the metaverse?
Shah describes the development of the metaverse as an iterative process that will span several years, rather than an immediate transformation.
What challenges has Meta faced in its metaverse and virtual reality efforts?
Meta has faced scrutiny for financial losses and internal doubts regarding its metaverse and virtual reality efforts. The flagship metaverse app has also reportedly encountered quality and performance issues.
What is Apple's approach to the metaverse?
Apple has announced its entry into the metaverse space with the Vision Pro headset. However, Apple chooses to use the term spatial computing instead of metaverse, citing a lack of understanding of the term among the general public.
How has Meta defended the term metaverse?
Meta's CTO, Andrew Bosworth, defended the term metaverse in an Instagram Q&A, comparing its initial confusion to that surrounding the word internet.
Is Meta still committed to developing the metaverse despite challenges?
Yes, Meta remains committed to the development of the metaverse. The company can now concentrate on building this ambitious project without the distractions of hype, reflecting Meta's long-term investment and dedication to realizing this virtual world of connected experiences.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
