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-- 124.730 Facebook plans to rebrand its name around metaverse, will it flop? 😨
$Meta Platforms (FB.US)$ is planning to change its company name next week to reflect its focus on building the metaverse, reported by The Verge.
Over the years, the $960 billion market cap giant has been pouring tons of resources to build up its VR/AR arm, in the hope to become the leader of this growing economy. Facebook already has more than 10,000 employees building consumer hardware like AR glasses that Zuckerberg believes will eventually be as ubiquitous as smartphones.
The metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet,” Zuckerberg told The Verge’s Casey Newton this summer. “And I think it’s going to be the next big chapter for our company too, really doubling down in this area.”
Currently, Facebook is generating over $30 billion in Free Cash Flow with its core advertising business, and the company is not paying any single cent to shareholders as dividends.
I feel very happy this way, as it shows that Zuckerberg is constantly testing and expanding Facebook’s capability and core, with the Free Cash Flow generated every year. My portfolio goal is for growth, and it makes perfect sense for me to invest in growth-driven company.
In the next few years, it’s very unlikely that other companies are going to take over Facebook in terms of digital advertising. So Facebook still has ample time to use it as a cash cow to fund its metaverse projects. And once it establishes its leadership in AR/VR technology, Facebook will once again dominate another fast-growing economy. That will be the beginning of another growth story. ![]()
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I am long-term bullish on Facebook. How about you?
Follow me on Moomoo and my YouTube channel for more investing insights! https://youtube.com/c/ChloeLinTV
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Machiavellis3rdEye : Facebook is Trash and We should all be United in boycotting all investments in trash from now on. Same goes for TWITTER, Reddit and all the other super toxic social media censorship machines.
The BIGGEST power and influence we collectively have is in deciding where to place our money.
BOYCOTT THIS GARBAGE….If your love for humanity trumps your personal Need to make a bit of money.
carririlin : Will Metauniverse be his next key project?
arigatoinvestor OP carririlin : I think this has been his focus for a long time. You can see from the way you develop Hoculous, Horizon as well as the recent glass collaboration with Ray-Ban!
arigatoinvestor OP Machiavellis3rdEye : Can't deny that attention is the wah Facebook makes money. I think everything we develop has a flip side, we just need to be mindful how to use it for positive purposes :)
Machiavellis3rdEye arigatoinvestor OP : That’s very romantic. But WE did not develop a damn thing. And MY POINT here is that if you know someone is fake, has lied, has Used data to Manipulate the masses and is now pulling a Google (DARPA TO GOOGLE TO ALPHABET) just to get away from the wreckage of his past and of his now highly tainted BRAND… THEN I ASK YOU THIS:
why put your mOney into that which you know contributes to Society’s demise?
That’s just ignorant IMO.
EVERY CHOICE YOU (WE) MAKE MATTERS. Lame rationalizing like “well we know that is How they make money” does Not make your financial endorsement of the injustice any better.
Respect and honor yourself and our fellow humans by taking a stand. It’s my greatest fantasy. Use YOURSELF for positive purposes! Because Choice matters.
Lay Pheng : Wow
Maverick888 : Not a Facebook fan from Day 1
ph2046 : New name is Bookface ?