Sat. Nov 26th, 2022

According to a report from the Gartner research firm, a quarter of us will spend at least an hour a day in the metaverse in four years.

So, I have no idea whether or not they are right about what, at this early stage, appears to be a profoundly unsatisfying medium. Even back in 1993, I remember the web through the Mosaic browser being just as clunky.These activities are currently carried out in separate environments, such as virtual classrooms, digital land, and virtual homes.

Mastering the Metaverse

A “collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality” is what Gartner calls the metaverse when discussing the future of virtual reality. Powered by “a virtual economy enabled by digital currencies and non-fungible tokens (NFTs).”A metaverse business is one that moves from a digital to a physical business. This means that businesses that have adapted their offline activities for the web will have to change again. Thirty percent of global organisations will have products and services ready for metaverse by 2026.

If companies like Facebook and Microsoft create their own versions of the “metaverse,” we could be faced with a series of parallel virtual universes, even though the term “metaverse” implies it will be all-encompassing like the web. Satya Nadella, Microsoft’s CEO, emphasised the importance of developing open standards in an interview with the Financial Times last week. They were present at the time of the web’s inception, but the metaverse has yet to see them.

The next global Wild West is already under consideration by legislators and regulators. Experts whose work underpins the forthcoming Online Safety Bill say the metaverse will be subject to stringent UK regulation, making the tech companies behind virtual worlds open to billions of pounds in potential fines, according to Tim Bradshaw.

Cryptocurrency platforms in the United States are concerned that they will be subjected to increased regulatory scrutiny. New rules proposed by the Securities and Exchange Commission could bring more digital asset exchanges under its jurisdiction.

Things that connect to the Internet

1. Peloton bids from Amazon and Nike are being analysed.

Peloton, the maker of connected fitness bikes and treadmills, has seen its stock value plummet over the past year, prompting interest from both Amazon and Nike. As a result of the news, shares of Peloton are up nearly 20%. The FT Weekend podcast delves into the field of behavioural science to find out if Peloton is deceptive in its efforts to get us to the gym.

Even after Spotify’s apology to Joe Rogan, the company is refusing to “silence” the media personality.
More than 70 episodes of Joe Rogan’s podcast were removed from Spotify’s app over the weekend after a dispute with musician India.

Arie posted a video of himself on his show repeatedly using the N-word. As Spotify CEO Daniel Ek apologised to employees for the “incredibly hurtful” comments made by the popular podcaster, he added that “cancelling voices is a slippery slope,” but he said he would not “silence” him.

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A €2.1bn lawsuit has been filed by PriceRunner against Google

Price comparison website in Sweden In the wake of European Union judges finding that Google favours its own price comparison service, PriceRunner has filed a lawsuit against Alphabet.

The UK’s tech industry is pushing for changes to the IPO process

In light of concerns that the momentum for initial public offerings (IPOs) could slow this year, tech executives and investors have urged the government to speed up and deepen reforms to Britain’s listings regime.

Toshiba wants to divide by two rather than three

As a result of Toshiba’s decision to abandon a contentious plan to split the company into three separate entities, the company’s stock price jumped as it promised to triple shareholder returns. It is expected that Toshiba’s devices business will be spun off and listed, while the infrastructure business will be retained by Toshiba.

Microsoft and Sony’s acquisition of studios and publishers by Microsoft and Sony, as well as Take-plans Two’s for Zynga, the casual games maker it bought for $12.7bn in January, will be the focus of Take-earnings Two’s report after the bell on Monday.

Tuesday: Lyft, a ride-hailing service, and Peloton, a fitness network, both report earnings. Customers in Japan are preparing for another difficult quarter from SoftBank, which was hit hard by the volatile stock market between October and December. Also, billionaire chairman and CEO Masayoshi Son may have to answer questions about the departure of his close lieutenant Marcelo Claure, as well as reports that Nvidia is preparing to abandon plans to purchase SoftBank’s chip designer Arm. Concerns about tether and other stablecoins are raised by senior Treasury official Nellie Liang as she testifies before Congress’ House Financial Services Committee about plans to regulate them.

Wednesday: Before Thursday’s investor day, Uber’s rival Lyft released its financial results. A rebound in its theme parks and higher-paying subscriber additions to its streaming platforms are expected to boost Walt Disney’s first-quarter revenue. New Galaxy S flagship smartphones are expected to be unveiled at Samsung’s latest Galaxy Unpacked event.
As the last major US social media company to report earnings, Twitter does so just as the New York Stock Exchange opens for the day.

Friday: Earnings from SMIC and AU Optronics, two Taiwanese LCD panel manufacturers, are expected in Asia.

By Adam

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