Mark Zuckerberg Can’t Quit the Metaverse

Almost two years ago, Mark Zuckerberg rebranded his company Facebook to Meta — and since then, he has been focused on building the “metaverse,” a three-dimensional virtual reality. But the metaverse has lost some of its luster since 2021. Companies like Disney have closed down their metaverse divisions and deemphasized using the word, while crypto-based startup metaverses have quietly languished or imploded. In 2022, Meta’s Reality Labs division reported an operational loss of $13.7 billion. But at Meta Connect 2023, Zuckerberg still hasn’t given up on the metaverse — he’s just shifted how he talks about it. He once focused on the metaverse as a completely digital new world. Now, he aims to convince the public that the future is a blend of the digital and the physical.

At Connect this year, Zuckerberg emphasized that the modern “real world” combines the physical world and the digital world still being built — and that it all builds up to “this concept we call the metaverse.” He added: “Pretty soon, I think we’re going to be at a point where you’re going to be there physically with some of your friends, and others will be there digitally as avatars or holograms, and they’ll feel just as present as everyone else. Or you’ll walk into a meeting and sit down at a table. There will be people who are there physically and people who are there digitally as holograms, but also sitting around the table with you are going to be a bunch of AI guys who are embodied as holograms and are helping you get different stuff done too.”