Metaverse hype and excitement are undeniable, even though there’s still a lot of debate about what this virtual world could or should be. Demonstrators Demitri Kalogeropoulos and Jose Najarro discuss a number of household names that are helping to shape the metaverse in this Backstage Pass segment recorded on January 11.
Demitri Kalogeropoulos is the person behind this. The Wall Street Journal ran an interesting article this morning headlined “Microsoft Hit by Defections as Tech Giants Battle for Talent to Build the Metaverse.” That was the first thing I clicked on, and I was completely engrossed the entire time.
These former Microsoft employees who have jumped over to Meta Platforms , which we used to know as Facebook, have been tracked down by the Wall Street Journal.
Companies Are Winning the Metaverse
I’d say there are at least a few dozen of them. When Meta offered to double their salaries, many of these Microsoft employees left to join Meta. As far as we know, Meta already holds a commanding market share advantage in the VR goggle market. Nevertheless, given Microsoft’s strong position in the augmented reality hardware market, it will be interesting to watch this battle intensify. Employees who were interviewed by the investigators stated that they had heard similar stories from their coworkers. It’s something Apple is aware of. Meta is attempting to swoop in and steal Apple’s engineering resources.
Although this is not a new concept, one aspect of it caught my attention. In my opinion, these big companies are constantly vying for the best and brightest employees and talent. As a result, some well-known companies like Alphabet, Microsoft, Meta, and Apple are consolidating their engineering expertise.
This is making it extremely difficult for smaller tech start-ups and specialists to compete, according to the article I read. It’s my understanding that Facebook has stated that they’re willing to lose $10 billion in earnings next year in order to invest in the metaspace.
A smaller company would have a very difficult time competing with that, in my opinion. What an interesting idea. I believe we’re already seeing this. We can see how these large corporations wield their heft and how difficult it is to unseat these so-called 800-pound gorillas in these articles.
I had two thoughts when I first read this article, Demitri, after you had shared it. My first thought was that I should return to engineering and see what kind of salary Facebook would be willing to offer me.
Also noteworthy is Microsoft’s intense focus on the virtual reality and augmented reality markets, along with other tech giants like Apple and Facebook.
We may think something crazy when we hear the term “metaverse,” but the technology behind virtual reality and augmented reality has other applications that can be put to good use.
In my opinion, the term “metaverse” has been overshadowed by the technology that I believe is being developed by the likes of Google, Facebook, and Microsoft. We should keep an eye on this as the digital transformation takes hold in the next few years.