It’s an interesting topic. Throughout the years, we’ve seen a tendency to crowd out other entrants in the market, which has been referred to as the “Meta effect.”
Like WhatsApp and Instagram, they were recently acquired by them, and it appears that they are now building on this new vision, which makes business sense. It’s also recruiting the best and the brightest to help build out this next iteration of its company.
Competition Is There in the Metaverse
This makes perfect sense to me. It’s a brilliant move, in my opinion, from a business standpoint. With Meta having such a massive presence in the space, it’s going to be increasingly difficult for smaller and newer companies to get into the metaverse.
In my opinion, that has been the case for a long time, and I believe it will continue in this new virtual world, the metaverse, where Facebook will continue to exert its monopolistic influence.
By Asit Sharma:
What if some garage ingenuity isn’t enough to outshine a lot of money invested? Remembering Apple co-founder [laughs] Steve Jobs, inventing in a garage under the shadow of Hewlett-Packard, I can never quite get his last name right.
When you have a wealth of resources at your disposal, it’s easy to project your ideal version of reality onto the world. “Hey there’s a different reality that can exist,” people who say, “You’re vulnerable.”
Meta/initial Facebook’s forays into the metaverse have not impressed me. Now that they’ve invested so much money and hired so many engineers, they’ll be able to tweak it at will, I suppose, to better reflect the preferences of the general public. In the weeks leading up to the new year, I’m not sure how many of you saw the stories about Apple retaliating with $180,000 bonuses and stock compensation to anywhere between 10 and 20 percent of their engineering staff.
Four years from now, these will be fully vested. Trying to claw their way back and say, “Wait, guys, we’ll make it appealing for you to stay here.” The competition for the best employees is fierce right now.
Nonetheless, I’m in total agreement with everyone else. There is a lot of attention paid to this area despite the hype, and that bodes well for the development of new technologies. As far as I know, things that we haven’t even contemplated yet could happen in the digital transformation space mentioned by Jose [Najarro, Fool contributor].