The list of critics and detractors of Mark Zuckerberg is growing day by day.
There is, of course, the financial community, analysts and investors, who are merciless about Meta Platforms (META) , the entrepreneur’s empire of social networks.
Meta shares are down 62.3% since January, reflecting a fall in market value of nearly $570 billion.
His billionaire peers, Elon Musk and Mark Cuban, mock him. Musk nicknamed him “Zuck the Fourteenth” — an apparent reference to the French king, famous for his hubris and excess, Louis XIV.
Billions of Losses
Zuckerberg’s strategy is what unites all these critics.
The chief executive officer has envisioned metaverse as the future of his company, which includes Facebook, WhatsApp and Instagram. Metaverse is an immersive world in which we will have a parallel life via avatars, using tools such as virtual reality headsets and leveraging advanced technologies like augmented reality.
To quell the last doubts, Zuckerberg changed the name of his company from Facebook to Meta Platforms. He flooded Reality Labs, the division developing this metaverse within Meta Platforms, with billions of dollars.
