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Mark Zuckerberg loses billions because of Meta

Because it’s our Meta project ! ” – The end of the year approaches. She invites us all to take stock. This is also the case of mark zuckerberg hit with buyer fever for the metaverse this year. In fact, the manager of the company Meta, parent company of Facebook, Instagram or WhatsApp, has continued to spend billions of dollars. So, after singing all summer, the CEO announced to these teams last week that it was necessary to reduce the costs of Meta and especially to freeze hiring.

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It was therefore during a staff meeting last week that Mark Zuckerberg would have made these announcements. Restructuring, warning against the hiring freeze, the objective being for the company director to decrease spending of Meta of at least 10%.

“I had hoped that the economy would have stabilized more clearly, but from what we are seeing this does not yet appear to be the case, so we want to plan somewhat conservatively.. »

Mark Zuckerberg – Source: The Block

This announcement comes as no surprise. Meta already had suffered the costs of his metaverse and the company’s share price has been plunging for almost a year.

Meta share price over one year

Even if the sarcasms are regularly out when it comes to Mark Zuckerbeg and its metaverse Horizon World, the reality of crypto and traditional financial markets is bringing us all back to the hard way macroeconomic reality. However, Web 3 and the technologies that accompany it continue to gain ground, as evidenced by the initiatives linked to the cryptocurrency that Meta sets up despite the winter.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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