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Why did the metaverse die? Because Silicon Valley doesn’t understand the concept of fun
(www.fastcompany.com)
this post was submitted on 15 Oct 2023
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Technology
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It died for the exact same reason every single aspect of life is getting shittier and shittier. Shareholders. When a company is publicly traded, it has NO CHOICE but to get worse and worse and worse, because shareholders will accept NOTHING beyond continuous growth. If you lose value in the market, they will run for the hills, if you plateau they will run, if you suddenly start making even slightly smaller gains, they will run. They are the sole reason for every decision, and because of that, every single decision will be a detriment to both employees and consumers. Underneath all the bullshit, this is why everything will go to shit eventually unless it is both privately held and by people with good intentions, which is rare to find tied together.
I would argue Zuckerburg had a lot of control over this project, lost a lot of money, and shareholders, due to the structure of Meta as a company, could do fuck all about it.
... But in almost literally every other company on earth, yea this is the case. And meta made these decisions in a world defined by the relationship you just described.