If they can burn a billion dollars on shit everyone else knew was a failure from day 1, they can pay a fucking reasonable tax rate
Meta has discontinued its metaverse for work, too
Submitted 2 days ago by JensSpahnpasta@feddit.org to technology@lemmy.world
https://www.theverge.com/tech/863209/meta-has-discontinued-its-metaverse-for-work-too
Comments
Passerby6497@lemmy.world 1 day ago
RIotingPacifist@lemmy.world 2 days ago
I guess the idea just didn’t have legs!
Herr_S_aus_H@lemmy.zip 2 days ago
db0@lemmy.dbzer0.com 2 days ago
Lol at all the companies who got rugpulled again because they trusted Zuck’s promises. Get rekt bozos.
WanderWisley@lemmy.world 2 days ago
Over $100 billion down the toilet and zuck is still one of the richest people in the world wtf?
Gonzako@lemmy.world 2 days ago
The US economy has devolved from an economy where you gain money by making and selling things to an economy where investing in the stock market and then taking out loans on that stock to keep investing is a better way to keep making money. When was the last time someone rich became poor?
hector@lemmy.today 1 day ago
That is one of the ways they avoid taxes. They take out loans to pay old loans and to spend on the value of their investments at good rates, and since they never realize income they never pay taxes. I think interest is even tax deductible to a degree.
Bezos in 2020, a year his wealth multiplied obscenely, paid 600 dollars. Less than we did.
As per a couple of propublica articles they published around 2021.
hector@lemmy.today 1 day ago
100 billion must be in lost market capitalization, not real money, just like tesla is theoretically worth a trillion dollars, no one could recognize that money.
jj4211@lemmy.world 1 day ago
100 billion is a touch higher than I’ve read elsewhere, but evidently they actually spent $77 billion ‘real’ dollars:
Rooster326@programming.dev 1 day ago
Bruh they definitely spent real money on developers and marketing.
Balldowern@lemmy.zip 2 days ago
Trillion is the new Billion.
markz@suppo.fi 1 day ago
He can afford to do it again and then again again. I guess the idea is to keep gambling in hopes of becoming the dominant comany in a massive industry.
monad@anarchist.nexus 2 days ago
Great News!
clutchtwopointzero@lemmy.world 2 days ago
The whole concept was dead on arrival. Second Life never took off and it was perplexing to see that Meta thought it could make it work.
JensSpahnpasta@feddit.org 2 days ago
I mean - it kind of does work. There are millions of people socializing in online games. Playing World of Warcraft with their friends or people they met there. Building crazy things on a Minecraft server while forming friendships. Playing on that Counterstrike Server for decades with the same people. Forming that guild or that clan in an MMORPG. There is something that does work. Not sure why Zuckerberg wanted VR to be part of that and that Facebook touch of poo is also not helping, but trying to build “World of Warcraft for your aunt” is not the worst idea.
SlurpingPus@lemmy.world 1 day ago
Second Life never took off
“In 2013, it had approximately one million regular users.”
‘Second Life’ has been chugging along for twenty-two years, with an actual in-game economy and a GDP of 500 million bucks. But clutchtwopointzero here thinks it ‘never took off’.
kalleboo@lemmy.world 2 days ago
What happened to Second Life anyway? All the gooners are on VRChat now and they seem to be doing fine
klymilark@herbicide.fallcounty.omg.lol 1 day ago
I mean, SL took off enough that it’s still here. A lot of F2P MMOs from around then aren’t really around anymore at all, I can only think of 2 others.
It may not be one of the big MMOs, but an estimated 600k MAU isn’t anything to sneeze at either.
artyom@piefed.social 2 days ago
Yeah, but I mean there’s “you shouldn’t use this because Meta is bad” and then there’s “no one wants to use this because it is, on a fundamental level, an incredibly stupid idea and I can’t believe anyone thought this would ever catch on.”
hector@lemmy.today 1 day ago
Facebook itself sucks now. It is not a feed of your contacts’ posts, it’s all groups, I have no control over that feed, unless I look up each friend individually I only get to see what they choose to show me, which is maybe one every 10 listings on the feed. It’s super glitchy, especially from my phone, posts just disappear with no trace, I am unable to use it in a dozen ways that they never bothered to fix. It’s getting worse as well. Total garbage.
And they are losing critical mass, as they suck more people leave, it’s mostly the older people that are still using it all the time that I’ve seen. We need a fediverse alternative, hopefully where it can interact with other forums on the fediverse like lemmy and mastadon.
db2@lemmy.world 2 days ago
The Aristocrats!
Mwa@thelemmy.club 1 day ago
i just hate how the cheapest vrs are only from META
RVGamer06@sh.itjust.works 1 day ago
And he only concurrent to the Quest 3 is the PICO, which is owned by Bytedance.
Choose your poison.
hector@lemmy.today 1 day ago
The only reason I log in now is marketplace. Which I need.
commander@lemmy.world 1 day ago
Go Valve go. Screw Facebook/Meta, Google, Apple. I want the future of VR to be standard desktop Linux centric. The iOS/Android state of mobile is annoyingly restrictive compared to even Windows let alone desktop/server Linux
QuandaleDingle@lemmy.world 1 day ago
Watch Valve put Proton on phones. It’s going to be incredible.
pirateKaiser@sh.itjust.works 1 day ago
Bongles@lemmy.zip 1 day ago
One more piece of bad news for VR
VR is doing fine. It’s a niche hobby for people like myself to feel like you’re inside of a game, movie, or porn. If you’re someone who does work on your own device, you can even work in VR.
The metaverse was a ridiculous idea, that is beaten by VRChat.
Mwa@thelemmy.club 1 day ago
true
Maeve@kbin.earth 1 day ago
For some reason, your comment made me think of https://m.imdb.com/title/tt0104692/plotsummary/
Maeve@kbin.earth 2 days ago
This is a good reason not to let Jeff Bezos convince you that computer saas is a good idea.
Rent seeking. Landlords are leeches.
cheese_greater@lemmy.world 2 days ago
I was struggling to think whatbit was but you just solved that. They want rent, never for you to own anything, much less anything tangible that cant be taken away or revoked or forced to surrender
Voroxpete@sh.itjust.works 2 days ago
But what about the zero people who used it? Whatever will they do?
Diplomjodler3@lemmy.world 2 days ago
But this time it will be totally different! They’ll learn to love our AI slop! Trust me, bro!
cley_faye@lemmy.world 1 day ago
I’m sure all the two people that were using it are devastated.
JackbyDev@programming.dev 22 hours ago
Oh you KNOW I had to be the robot.
resipsaloquitur@lemmy.world 2 days ago
Don’t worry. The billions Zuck dumped into crypto and NFTs will pay for the billions he dumped into VR.
He’s a genius, dontchaknow.
Wispy2891@lemmy.world 1 day ago
I can’t imagine any single company licensing this stuff
lmmarsano@lemmynsfw.com 1 day ago
MacStainless@piefed.social 1 day ago
Blackmist@feddit.uk 1 day ago
I can’t think of many things worse than having to use a VR headset for work.
PerogiBoi@lemmy.ca 2 days ago
Meta Horizon Worlds is a giant unlicensed and unmoderated daycare.
JensSpahnpasta@feddit.org 2 days ago
So there are people parking their toddlers in a VR world?
PerogiBoi@lemmy.ca 2 days ago
The overwhelming majority of vr world users are children ages 7-14. There are almost no adults. The adults that are there are trying to interact with kids in an environment where there is zero supervision.
Buffy@libretechni.ca 2 days ago
Yeah it makes the first experience with a Meta headset extremely awkward. You boot it up they and they really want you to go into these worlds. Okay, so I did. Immediately I’m bombarded by the sound of 20 unsupervised children raiding a virtual McDonald’s. Okay, maybe I should find an 18+ world and try that. This was also a mistake.
eletes@sh.itjust.works 1 day ago
Luckey Palmer laughing his ass off while playing with his AR battle helmet
mriormro@lemmy.zip 1 day ago
Luckey can rot in a shallow grave.
Fuck all of these people.
Treczoks@lemmy.world 1 day ago
I’m surprised that they are still trying to beat that dead horse at all. Haven’t they burned billions on it already, without chances of returns?
oh_@lemmy.world 2 days ago
They made it for work too? TIL.
Keshara@piefed.world 2 days ago
Ugh pay-walled article
Lembot_0006@programming.dev 2 days ago
Can you explain how it is bad?
ExcessShiv@lemmy.dbzer0.com 2 days ago
Not all news are bad news
Lembot_0006@programming.dev 2 days ago
One more piece of bad news for VR.
OP claims that this particular piece of news is somehow bad.
Valmond@lemmy.dbzer0.com 2 days ago
A ha ha ha ha ha ha, … inhales … Aaa ha ha ha ha ha ha ha
ExLisper@lemmy.curiana.net 2 days ago
If a company can dump $100B into failed project and still be profitable they have too much money. Jesus, imagine would would happen if this money went to the workers instead…
JensSpahnpasta@feddit.org 2 days ago
It’s actually crazy that you can burn $100B in a project that everybody mocked from the beginnings and still be CEO after that while having earned billions in compensation
Soup@lemmy.world 2 days ago
Hell, it’s fucking insane that we have to earn our bonuses and they still fucking suck yet these people will get millions after fucking it all up. Imagine if a regular worker failed this hard and was like “so where’s my $15,000 Christmas bonus?”
Alpha71@lemmy.world 1 day ago
this is what’s called “holding a controlling interest.”
9488fcea02a9@sh.itjust.works 2 days ago
where do you think the money went? I imagine a lot of it went to workers salaries…
[sweating profusely] Developers! Developers! Developers! Developers! Developers!
MajorasMaskForever@lemmy.world 1 day ago
I hope this meme never dies, but I fear it’s already reaching obscurity
ExLisper@lemmy.curiana.net 2 days ago
You’re right, a lot of it probably went to the devs but from what I’m reading the cash burn is so bad because it’s extremely chaotic in there, lot’s of bad decisions, canceled projects, lot’s of directors swapping places. No idea what part of it went to low ranking devs and what went to consultants and building useless prototypes.
Damage@feddit.it 2 days ago
imagine if they used it develop poor countries
Rekorse@sh.itjust.works 2 days ago
My guess is they collected enough unique data from people using the headsets that its a wash.
ExLisper@lemmy.curiana.net 2 days ago
No, from what I’m reading they just pump money into it senselessly. VR/AR devices are $1B a year market and they pumped like $18B into it in a year. They just don’t care because they make so much money they can burn it.