Wednesday, November 3, 2021

g-f(2)628 THE BIG PICTURE OF THE DIGITAL AGE (11/3/2021), Forbes, What Is The Metaverse—And Why Does Mark Zuckerberg Care So Much About It?

ULTRA-condensed knowledge

"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation, Metaverse (11/3/2021)  g-f(2)426 

Opportunity, Forbes

  • For a time, Second Life made it seem like the metaverse—an idea for an immersive, 3D world originally conceived in a 1990s sci-fi novel—had finally arrived in our own world. It hadn’t. 
  • Today another tech billionaire hopes to finally—and more fully—conjure up the metaverse, and ironically, it’s the same person who helped bring about Second Life’s ruin: Facebook founder Mark Zuckerberg. Under siege on multiple fronts, Zuckerberg has pinned his trillion-dollar company’s future to creating a metaverse, last week renaming Facebook as “Meta.”
  • Zuckerberg has said the concept will cost $10 billion this year–then more in future years—and expects the metaverse to lose money for the foreseeable future. The numbers are big, but Facebook can stomach those losses just fine: It netted $29.1 billion in profits on $86 billion in sales last year.

          Genioux knowledge fact condensed as an image

          Facebook Name Change Signals High-Stakes Race for 'Metaverse' | WSJ

          Everything Facebook revealed about the Metaverse in 11 minutes | CNET


          Extra-condensed knowledge

          Lessons learned, Forbes

          • Zuckerberg’s project isn’t earth shatteringly new. Fragments of it have kicked around Silicon Valley for years—as Second Life and Bezos’ interest in the metaverse make clear. But Facebook does have a couple things going for it that others in the past didn’t. One is the ability to deploy more money in the next two or three years than the total of all the dollars spent on the metaverse during the prior 30 years. Another is the simple fact that we’re all a great deal more comfortable with virtual communication now after working from home for much of the past 20 months.
          • “Our goal is to help the metaverse reach a billion people and billions of dollars in commerce in the next decade,” Zuckerberg said on a conference call with Wall Street analysts last week. Getting there, he noted, “will be a long road.”

          Condensed knowledge

          Lessons learned, Forbes

            • What is the metaverse? A boundless, 3D digital world accessed as easily as the internet, where we do things like hang out in a park, play a game, see a concert or suffer through a work conference.
            • What challenges does Facebook face in turning the metaverse into reality? 
              • Newer, more powerful microchips have improved VR graphics, largely eliminating a problem dating back to the earliest consumer headsets in the 1990s: Their lagging images made some people nauseous. But even today’s most sophisticated headsets still only track a limited portion of your body movements. As a result, avatars within VR still look awkward, particularly their faces—the so-called uncanny valley effect. 
              • If we’re all going to live in the metaverse, our digital selves likely need to be more appealing. There’s also what Jeremy Bailenson, the founding director of Stanford’s Virtual Human Interaction Lab, who has counseled Zuckerberg, describes as his “30 Minute Rule.” That’s the maximum amount of time he thinks someone should spend within virtual reality today.
              • Price is another thing. The second iteration of Facebook’s Oculus VR headset, released in September 2020, retails for $299, half what its initial Oculus cost. But Facebook probably needs to continue lowering that price tag for the metaverse to reach a mass audience. The company hasn’t set any formal goals, but it’s hard to see it being happy with spending $10 billion (and up) a year on something that doesn’t at least reach the scale of Instagram (1 billion users) or WhatsApp (2 billion). A little context: Facebook is poised to spend far more on the metaverse than what it took to buy Instagram ($1 billion in 2012) or WhatsApp ($19 billion in 2014).

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