Zuckerberg Has Silicon Valley Freaking Out Because He Is So Ridiculously Rich He Is Wasting BILLIONS Of Dollars On The Metaverse, Wildly Spending Money Without A Care In The World

KENZO TRIBOUILLARD. Getty Images.

NYP - Facebook-parent Meta Platforms needs to streamline by cutting jobs and capital expenditure, its shareholder Altimeter Capital Management said Monday in an open letter to Chief Executive Mark Zuckerberg.

The company has lost investor confidence as it ramped up spending and pivoted to the metaverse, said the technology-focused hedge fund with a 0.1% stake and suggested a three-step plan.

Meta has spent billions and hired thousands of employees around the world to build the metaverse, which refers to a shared digital environment that uses augmented or virtual reality technology to make it feel more realistic.

But the company’s dreams have fallen short as the Reality Labs unit, which works on augmented and virtual reality, has continuously reported staggering losses. It lost $5.8 billion in the first six months of the year.

Altimeter said such huge investments “in an unknown future is super-sized and terrifying, even by Silicon Valley standards.”

Mark Zuckerberg is a lot of things- genius, wizard, weirdo, robot, lizard person, just to name a few. But as bizarre of a person he has proven to be, I will always have respect for him for being like "fuck off, I'm gonna do things my way". When Facebook was blowing up and Zuck was the world's youngest billionaire, basically every single smart person in the world told him to hire a CEO, but he said nope, I'm gonna do it. And it worked out. When everyone told him all he had to do was look like a human and not a cyborg in front of congress he said "nope, no thanks!" and proceeded to drink that glass of water like the alien he is

Giphy Images.

So when it comes to this whole Metaverse nonsense, I respect Zuckerberg for blowing through nearly 6 BILLION DOLLARS IN THE FIRST 6 MONTHS OF THE YEAR. That's pretty baller I don't care what you say. The blatant lack of respect for money because he has so much of it that it's probably literally impossible for him to ever go broke in 10,000 years is pretty cool. He's probably the only person on the entire planet who cares about this Metaverse thing and he's lighting money on fire investing in it, simply for love of the game. (And maybe down the road I'll look foolish for using the phrase "Metaverse thing", but it's so new and rudimentary at this point I have no idea what else to call it.)

When I feel like wasting money I buy an expensive dinner or buy some new records or play some online blackjack. You know, normal things to waste money on. When Zuck wants to waste money he makes all of Silicon Valley clutch their asscheeks because of how "super-sized and terrifying" his investments into the Metaverse are. 

I'm not a "rah rah, go billionaires" guy, but I can always appreciate someone who doesn't give a fuck and lives by their own rules. Not sure Zuck is going to lose sleep over some firm with .1% writing him an open letter. He'll buy up that .1% and send them on their way before breakfast.