December 2, 2022

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Mark Zuckerberg just hinted at an operating system for Meta and said he expects the metaverse to generate hundreds of billions in revenue by the end of the decade

Mark Zuckerberg just hinted at an operating system for Meta and said he expects the metaverse to generate hundreds of billions in revenue by the end of the decade

Mark Zuckerberg displays his avatar during Connect 2021.Facebook

  • The founder and CEO of Facebook anticipates commercial success with the metaverse later this decade.

  • He said Facebook’s operating system may be needed “in order to deliver what we want to build”.

  • The division of the company that works on the metaverse is losing billions of dollars in the quarter.

An operating system built on Meta platforms could be the future as Mark Zuckerberg plans to make the metaverse a major part of the company’s business this decade.

Zuckerberg didn’t dismiss the idea of ​​creating an operating system for his company’s various platforms and devices in order to keep the technology being built to create the metaverse, immersive virtual reality, to function properly when asked about it on CNBC’s “Mad Money.”

Meta, which changed its name from Facebook late last year, didn’t have an operating system of its own.

“I think in the long run, we’re going to need that level of integration between hardware, software and the operating system, just to deliver what we want to build,” Zuckerberg said.

He added that by the end of this decade, he expects one billion users of the metaverse, each spending “hundreds of dollars” a year on different products, such as virtual goods for spaces and avatars. This indicates that metaviruses are expected to generate hundreds of billions of dollars in revenue by the end of the decade.

“Our guide has been to build our services over time and get them to as many people as possible, to reach 1 or 2 billion users and expand from there,” Zuckerberg said. “The metaverse will be a huge part of our business for the next several years, and the second half of this decade as well.”

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Reality Labs, the metaverse division of the Meta, is currently a money-losing effort. It lost just under $3 billion in the first quarter after that You lose 10 billion dollars Last year, Wall Street freaked out enough that Zuckerberg said he was planning…slow downFrom new investments.

Internally, too, the company’s shift to building the metaverse, as well as Zuckerberg’s personal focus on technology, has caused some interestand frustration and confusion, where a current employee told Insider that there is no “coherent strategy” for the project, yet. Since Zuckerberg said in April that he was going to “the set level in our business trajectory,” the company has done so Large-scale frozen recruitmentas first reported by Insider, which led to concerns about future layoffs.

However, Zuckerberg made it clear that his expectation is that his company’s version of the metaverse will be a large part of its business going forward.

He said, “We’ll get there.”

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