Get All Access for $5/mo

Mark Zuckerberg Optimistic on Metaverse in the Long-Run Meta Reality Labs focuses on research and development of its metaverse-related project

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Wikimedia Commons

Mark Zuckerberg, CEO, Meta at the New York Times DealBook Summit said he was still optimistic about the metaverse on a longer 'five to ten year horizon'. The company was recently criticised due to the losses incurred in its attempt to build a metaverse.

Virtual reality, augmented reality and social platforms are the platforms Meta focuses on. "The way we communicate gets richer and more immersive," Zuckerberg said via a virtual interview, doubling down on his company's bet on a virtual and augmented reality-dominated future.

Zuckerberg has admitted Meta would need to operate in a more 'efficient and disclined' manner since macroeconomic issues have forced the company to scale back the spending.

"Skepticism does not bother me too much. We've had doubters the whole time", said Zuckerberg.

According to Zuckerberg, Meta spends 80 per cent of its time focussed on its social media apps including the likes of WhatsApp, Facebook and others. Meta Reality Labs focuses on research and development of its metaverse-related project.

Zuckerberg stated that he is unfazed by critics of his company's bet on the metaverse, saying a lack of pushback typically means an idea is not ambitious enough.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Marketing

He Pitched His First Business at 12 and Sold a Company for 8 Figures When He Was 23. Here's This Gen Z Marketing Expert's Next Big Move.

Griffin Haddrill built a marketing empire working with artists like Justin Bieber and Lil Nas X. Learn how he tapped into Gen Z's digital culture and turned viral campaigns into a business model.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Business News

Macy's CEO Confirms Employee Made Accounting Errors Worth $151 Million, Though Not for 'Personal Gain'

The company announced its third-quarter earnings Wednesday after a delay.

News and Trends

2025 to Test AI Ideas for Viability: Sequoia's 3 Predictions

If 2024 was AI's primordial soup year, 2025 will be about the foundations solidifying, according to David Cahn, partner at Sequoia Capital