Zuckerberg’s metaverse bet is turning sour

Meta honcho Mark Zuckerburg is a pantomime villain.

When Facebook announced last year that they were rebranding as “Meta”, in a signal of intent about where they believed the industry at large was heading, it disappointed some.

“How dare they take the metaverse name”, many decried. Yet with the nebulous concept of metaverse now being referred to more as Web3, this chatter has died down a bit.

Meta vision struggling

But what exactly is going on with Meta, and their push to kick off the new age of social media?

Zuckerburg’s announcement did nothing to quell the slew of selling, as Facebook’s share price today trades at $129, a nasty 59% plunge since the rebrand announcement.

Nearly a year to the day of the Meta rebrand, Zuckerburg’s utopian vision of some Ready Player One type of virtual r