Why Facebook’s Meta-Morphosis Has Already Flopped | PRO Insight

Mark Zuckerberg’s pivot to the metaverse is showing signs of being a colossal business failure

Not so long ago, in a galaxy not so far away, resident corporate alien Mark Zuckerberg read the room, didn’t like what he saw and bet the company (formerly known as Facebook) by going all-in on the nascent metaverse. Zuckerberg’s Meta move was a practical one, for sure. His rebranding play served as a convenient (if not utterly transparent) diversionary tactic – a distancing from the relentless beating Facebook was justifiably receiving from all corners for its missteps in social media.

But, not surprisingly, his Meta move was also an arrogant one. Zuck banked on his belief that he and his billions alone would guarantee success by convincing the world to follow him and his increasingly stagnant company into a new immersive world of social VR. But something happened along the way to Zuck’s newly-imagined, digitally-driven immersive promised land. And just over one year since Facebook’s flip to Meta, it all now looks like one big flop.

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Peter Csathy

Peter Csathy is a WrapPRO contributor writing about the intersection between tech and entertainment/media. He's chairman of Creative Media (https://creativemedia.biz/), a boutique media, entertainment and tech business advisory and legal services firm. His monthly “Fearless Media” newsletter (https://www.getrevue.co/profile/pcsathyweekly) covers the future of entertainment, media and tech; and his weekly “NFT Legal Update” newsletter (https://www.nftlegalupdate.com/) covers Web3 and the NFT ecosystem. You can follow him on Twitter @pcsathy.