Here's What Mark Zuckerberg Got Wrong About the Metaverse. Where Does Meta Go From Here?
In October 2021, Mark Zuckerberg announced his social media company, Facebook, would be renamed to Meta Platforms (NASDAQ: META). It's fair to say the organization had outgrown its original name since it previously acquired a series of other platforms like Instagram and WhatsApp, but that wasn't Zuckerberg's motivation.
He had been formulating his vision for a virtual world known as the metaverse since at least 2014, when his company acquired virtual reality headset maker Oculus. But when the COVID-19 pandemic struck in 2020, the work-from-home trend that followed sparked a huge amount of interest in the metaverse.
It created a perfect storm for virtual reality-based technologies, thus, they were placed at the center of Meta Platforms' strategy for the future. But to date, there hasn't been a great deal of interest in life inside the metaverse.
Source Fool.com