CEO Of Meta Mark Zuckerberg Remains "Long-Term Optimistic" About The Metaverse

"The pessimism doesn't upset me that much," Facebook's parent company's CEO stated on Wednesday at the DealBook Summit.

During the New York Times DealBook Summit in New York City on Wednesday, Meta Platforms (META) CEO Mark Zuckerberg said he was still hopeful about the Metaverse on a longer, "five-to-ten-year horizon."

"The way we communicate becomes richer and more immersive," Zuckerberg said in a virtual interview, doubling down on his company's bet on a future dominated by virtual and augmented reality. The company has been chastised for incurring billions of dollars in losses as it expands its version of the metaverse.

However, Zuckerberg acknowledged that Meta will need to operate with "greater efficiency and discipline" in the near future due to macroeconomic issues forcing the firm to cut back on investment.

According to Zuckerberg, Meta devotes 80% of its attention to its heritage social media suite of programs, which includes Instagram, Facebook, WhatsApp, and others. The remainder of the time is devoted to building metaverse-related hardware and software.

Reality Labs at Meta focuses on metaverse-related research and development across three major categories: virtual reality, augmented reality, and social platforms.

The billionaire CEO is unconcerned with opponents of his company's gamble on the Metaverse, claiming that a lack of resistance usually indicates that a concept is not bold enough. "I'm not bothered by skepticism," Zuckerberg stated. "There have always been skeptics."

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