Unfortunately this is just the beginning for layoffs. Investors care for returns and they are just not there...so Mr. Z has to show a relentless expense and capital stewardship to try to get their confidence back. Until then, wall street will not stop asking for changes. And this does not happen in a quarter. In the meantime, competitors are watching closely and capitalizing from this mess.
This is not a bad time to get out of the company, at all!
"over 6 billions people wear a VR headset everyday", maybe this will happen one day. Even if happens, your grandma and grandpa will not wear it because this will take a few more decades, by when your grandma already passed away, and you will be a grandma or grandpa.
Mark my words, meta's stock will appreciate 200% within a year.
What's happening right now? Smart money is buying shares cheap.
I think Zuck wants to see over 6 billions people wear a VR headset everyday including your grandma and grandpa.
you failed to point out the biggest reason for why we've come to this point: zuck's blind devotion and 7 straight quarters of losses in the metaverse. gertsner from altimeter who holds millions of institutional fb shares in his open letter told zuck to reduce investments in that space. doesn't matter if zuck is the majority shareholder, when the stock plummeted from $350 to under $100 in less than 1 year it's time for a wakeup call. no one has anything good to say about the metaverse and investors ain't waiting until 2030 and later to see it bear fruit. these layoffs mean very little because zuck will continue to dump $$ into the metaverse so next year or so we'll have another round of layoffs that will repeat until zuck can pull his head out of his rear and realize that apart from him, most people don't care about his metaverse vision. and people have a bad impression of fb in general and no amount of rebranding can fix that