Metaverse Woes: Meta Platforms Can't Even Get Its Own Employees Excited About the Metaverse

By Travis Hoium – Oct 13, 2022 at 10:00AM

NASDAQ: META

Meta Platforms

Market Cap

$1,121B

Today's Change

(0.43%) $1.91

Current Price

$443.29

Price as of April 26, 2024, 4:00 p.m. ET

Meta Platforms is betting $10 billion per year on the metaverse, and stakes are high for the company's biggest technology bet.

Meta Platforms (META 0.43%) is spending $10 billion per year on building out the metaverse, but its employees aren't even spending much time with a headset on. So why would consumers adopt the metaverse in large numbers? In the video below, Travis Hoium goes through major questions about Meta's grand metaverse vision and why its money might be better used elsewhere.

*Stock prices used were the end-of-day prices of Oct. 7, 2022. The video was published on Oct. 11, 2022.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Apple and Unity Software Inc. The Motley Fool has positions in and recommends Apple, Meta Platforms, Inc., Microsoft, and Unity Software Inc. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. Travis is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.