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The Metaverse. The Biggest Mistake Ever Made?
Since Facebook was rebranded to Meta, its stock has plummeted more than 60 percent.
In the summer of 2021, the company was worth just under a trillion dollars.
Today, it’s down to just 300 billion. The last time the stock was this low was in 2016.
And the outlook for Meta is not great.
Hundreds of blog posts and YouTube videos predict Meta’s demise.
But why? Monetizing apps through advertising is becoming increasingly difficult, especially on Apple’s iPhone.
And Instagram and Facebook seem to be losing touch with the young generation, which is increasingly active on TikTok.
And Mark Zuckerberg’s pet project, the Metaverse, is considered by many to be a joke.
In 1997, Prof. Clayton Christensen published the book The Innovator’s Dilemma.
It’s a clever analysis of why large, established companies repeatedly fail to assess disruptive forces and thus usually adapt too late to disruptive change.
A new technology is inferior at the beginning and is therefore underestimated by many, especially the established market players.
However, when it proves itself, the new technology enters a phase of rapid growth, then becomes unbeatable and displaces the old.
Zuckerberg finds himself in exactly this innovator’s dilemma.
But he stumbles not because he failed to recognize new technologies, such as virtual and augmented reality (VR/AR), but because some things went, unfortunately, and also because he makes some big mistakes.
– Contents of this video –
00:00 The decline of Meta
01:10 Meta’s Innovator’s Dilemma
02:43 Why is Zuck betting it all on the metaverse?
04:17 Why Zuck’s strategy might fail?
04:37 Apple’s VR strategy
05:41 Microsoft’s VR strategy
06:44 Predicting the future
07:38 Pro-innovation bias
08:43 Why Zuck’s metaverse could succeed
10:20 Mark’s Meta mistakes