Zuckerberg’s $100B metaverse gamble is ‘super-sized and terrifying’ — Shareholder
A shareholder’s open letter to Meta CEO Mark Zuckerberg has labeled the tech giant’s investment into the Metaverse as “super-sized and terrifying.” The shareholder has urged the company to scale down its investment in the metaverse and its related technology arm amid a significant fall in its stock price over the last 18 months.
The open letter was published on Oct. 24 and was directed at Zuckerberg and the board of directors. It was authored by Brad Gerstner, CEO and founder of technology investment firm Altimeter Capital, which owns roughly a 0.11% share in Meta, according to Hedge Follow. He said the company has announced investments of $10 billion to $15 billion per year into its Metaverse project, including AR/ VR tech and Horizon World, but “may take 10 years to yield results.
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