meta platforms META has seen better days.

As the company goes back into defensive mode in the face of a massive wave of layoffs, all eyes turn to the CEO Mark Zuckerberg and replicate his hopes Facebook‘s Web 2 success by developing an early version of the metaverse.

Several issues – from technical to cultural – still prevent and cause meta’s success in the metaverse Quarterly losses for the tech giant.

Mark Zuckerberg and a Dream of the Metaverse

Meta started off on the wrong foot in 2022 when the world learned the user base was turning down for Facebook, the company’s flagship product the first time in its 17-year history.

On Wednesday, with a touch of sadness, Zuckerberg announced that the company 11,000 employees laid offor about 13% of its workforce of 87,000.

Zuckerberg blamed himself for the unsustainable growth, based on growth expectations for the entire e-commerce sector that didn’t materialize.

The markets have responded well Helping Zuckerberg become more capital efficient, Meta stock is up more than 12% since the announcement.

But former employees put some of the blame on themselves Zuckerberg’s “obsession” with the Metaverse.

A year ago, Meta kept its old name Facebook Introduce branding that better aligns with its Metaverse strategy to become an early driver of the technology. Since then, CEO Zuckerberg has become a messianic figure for the metaverse, placing the new technology at the center of his public discourse.

Possibly set aside moral discussion about whether the next iteration of the Internet operated by a single, for-profit corporation, it is safe to say that the underlying technology is required for the metaverse to become ubiquitous is still in the development stage.

Betting on the Metaverse

Yes SiuCo-founder and CEO of Animoca Brands, a VR/AR VC, defines the Metaverse as “an open, decentralized network of systems and environments powered by real…