Facebook's Collapse & The Metaverse Crusade
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- čas přidán 3. 06. 2024
- This year, everything is changing. Facebook stock dropped by 26% in a single day, wiping out 230B in its valuation after its 4Q earnings announcement. The company goes through a new crisis every month. Employees are stepping out as whistleblowers, political pressures are growing, but most damning of all - consumers are now spending significantly less time on Facebook.
For the first time ever, Facebook announced weaker ad impressions, fewer daily active users, slowing spending by advertisers. And while the world is still very much stuck in COVID, there are enough signals to suggest that it’s not just you and me - lots of other people are simply getting tired of Facebook. The golden era of seemingly endless growth is now over.
Facebook in a single month has gone through a complete rebranding and is now pounding the drum for a flashy new vision about metaverses, digital frontiers, and innovation - things that companies only do when they feel they have no other choice. So what is Facebook’s new strategy to combat this slowing growth? And why exactly does Zuckerberg think future growth lies in the metaverse?
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🎧 Audio Editing & Mixing: Sonalf
Chapters:
0:00 A Company's Arrogance
3:15 Digital Stickiness
5:15 TikTok & The Changing Winds
7:09 Snapchat & The Copycat Playbook
10:13 Text to Photo to Video
11:50 Software Without the Hardware
14:45 iOS 14's Privacy Changes
16:20 A Forced Evolution
17:17 Winning the Personal Device of the Future - Věda a technologie
Chapters:
0:12 A Company's Arrogance
3:15 Digital Stickiness
3:39 Deepening Its Moat
4:37 Waning Social Significance
5:15 TikTok & The Changing Winds
6:20 The Short-Form Video Vertical
7:09 Snapchat & The Copycat Playbook
9:00 Reels vs. TikTok
10:13 Text to Photo to Video
10:59 Zuckerberg's Big Bet
11:50 Software Services Without the Hardware
14:45 iOS 14's Privacy Changes
16:20 A Forced Evolution
17:17 Winning the Personal Device of the Future
You should pin this! Maybe consider putting chapters on the actual video :)
Amazing video as always, you never fail to amaze!
Be sure to pin these brother so they don't get lost in the comments 🍻
You forgot to mention the HTC First! That was the first attempt by Facebook whether they should fully invest in making a mobile platform
Mark is such a great android...
It's very impressive how artificial intelligence has evolved since the year 2000.
:P
No, the 2010's smartphones became popular not 2000's; you have alot wrong here apple is absolutely worse than Google. Talk to Snowden. Also Facebook isn't even runner up in vr tech they are way behind the ball for the money they have spent.
“Didn’t do a good enough job protecting people’s data.”
Is a funny way of saying that they did everything they could to sell it.
We should have sold it to more people. We are vewwwy sowwy. 😔
Facebook doesn't actually sell data, that is a myth. The data they have on you is the most valuable thing they have, selling it would be a bad idea. What they do sell, is your eyes to advertisers. Advertisers don't have access to any of the data on users.
Looks like he's not sleeping too well
“And I’m really sorry for that.” Those are empty words.
Note her grin
I think facebook has also underestimated the negative reaction to overpersonalized content. Its not just stories in the media that form bad press; targeted ads too often is unnerving. The ads start becoming less about their content and more about how creepy they are.
For me, it doesn't make any difference how much the ads are personalised. I find all advertising equally annoying, intrusive, and disgusting. I do not want anything on my computer that I have not directly chosen for myself. Even if they're showing me a product I might actually like, the simple fact that a company has paid to have advertising imposed on my personal device will put me off buying anything from them (because of course the cost of the advertising will be factored into the purchase price, meaning I would actually end up paying to be annoyed by ads that are attempting to psychologically manipulate me for the sake of someone else's greed).
@@colehartel7206 I'm likeminded yet more extreme, but let me offer a twist:
Adds about products/services you like convert others and bring scale/network benefits to you who didn't need it. Offsetting marketing cost & bringing perks like networking effect.
I simply don't like the fact of generating demand through manipulation. That = bad deal.
@@colehartel7206 I actually don't really understand what this overpersonalised advertisement is really trying to achieve. Like with the example of a lipstick - a young girl will probably already be more educated on the topic compared to say her middle age dad who's looking for a gift, and won't even look at the ad, unlike her dad. See what I mean? There's only one thing I ever bought from personalized ads, and it's our wedding rings we saw on Instagram, throughly researching local sellers online and knowing then beforehand. It's was just a matter of luck that this Instagram ad happened to have a picture of a ring we were talking about. We'd find it anyway
The worst part is somehow the algorhytm knows when u hate an add and pushes it more (i think it confuses the hate with engagement somehow)
Over personalization has forced me into a mindset where I feel refuse to click on any ad or listen to anything that may be an ad in disguise.
The fact that Mark himself does his best to live a private life living in a well secured mansion while invading and selling everyone's personal information.
This sentence isn't finished
@@09ThunderOne The ironic inference is obvious.
@@guydreamr ironic? try again
@@09ThunderOne Ok, I'll give it another whirl: "the ironic inference is obvious."
When going through my phone apps I noticed "facebook installer" and "facebook manager" later called "meta manager" continously reinstalled themselves on my device despite me not using a single facebook app.
Its these levels of creepy that make me adamant that I will never use anything they make.
I went out of my way to buy an open-market phone that did not come with any FB crap pre-installed. I'm suspicious those apps are still sending as much data as they can back to FB even though it's not being used.
Yes, knowing who you are is there thing, as in the login with facebook. That lets them sell ads to places you go, and buy data that they store about people who don't even have Facebook. Google and all the Advertising funded corps do it.
Meta's headsets is actually a store based model, like Apple, so for the first time you have users who are customers, rather than just products.
Meta for example doesn't let users even opt in for apps/games to access sensor data. Hackers announced that they made an app that could run head position through AI to extract audio, so Meta redesigned their facial interface for Quest 2 and dropped it for the Quest pro.
Are you sure you didnt use an facebook related app? They own tons of apps and services.
@@youtubesucks5080 I haven't used many apps in my life. I also never used Facebook.
After being suspended 25 times, I got fed up and attempted to delete Face Book totally, after re-arranging my personal information. They won't let me do it. They have my personal information and I can never get rid of Face Book. It is like electronic herpes. I can't stand that idiot Mark Suckaturd and I hope his private plane runs into a mountain.
The issue that FB has is that they are so untrusted that people will not purchase their "new" devices. They made short term optimization decisions at the expense of long term trust and growth.
It’s true, people wised up. They should probably focus on disintegrating the companies and becoming investors in other more successful enterprises. Making big enough investments that they have control over decisions in said companies.
You're kidding right? They are the market leader by FAR in VR and sell Quest 2's like hot cakes.. Only like 1% might actually care about the 'stealing your data' bs. Also when people say they care about their privacy on CZcams it's kinda embarrassing, since Google does almost the same thing with your data. Every message you send here, using your Gmail account to login here, Emails you send in Gmail get read etc etc is used to target ads for you.
@@maxjames00077 Right, that's why they are seeing negative user growth and investing huge amounts of money in unfounded markets like the metaverse.
@@hb7030 Yeah you clearly didn't read their earnings report and have no idea what you are talking about :-)
Their DAU (Daily Active Users) grew so extremely fast during COVID because people were stuck at home that when COVID restrictions got lifted they saw a decrease of 0,05% for a very short period.
Their MAU (Montly Active Users) never stopped growing at all even though it grew also extremely fast during COVID.
As of investing huge amounts: Facebook has so much cash in the bank and free cash flow that they kinda ought to do something with it now, don't they? They can do acquisitions, invest in themselves or create new technologies and they do all three. Since many big companies think VR/AR/MR will be the next big thing, it's only logical for them to follow.
@@maxjames00077
Is that you, Mark?
If you have a bad product, but a near monopoly, your business appears successful.
It's only when actual competition gains a foothold in the market that you realize just how fragile their spot at the top really was.
Instagram everyone uses and what's app as well.
Most these videos are based through the lense of the US. Outside the US FB is growing a lot still.
And facebook is just buying off the competition at this point
@@victorespino5650 Facebook actually already reached most of Africa and Asia years ago with "free internet"(because FB is the whole internet *sarcasm*). Growth is already slowing down. It's one of the reason why their stock is now plummeting besides the privacy/advertisement issue.
@@victorespino5650 Also you have to think about how much add-spend
Aka Tesla lol
It’s just disgusting how deep-rooted their Marketing and Ads goes.
I tested in once with my girlfriend on a clean phone. We were talking about some random shit we would’ve never talked about, talked about Brands we would never buy or even talk about in the first place. We both never saw ads of the thing we talked about, but after a convo of 10 minutes, there was literally ads everywhere of the things we just talked about, Facebook and Instagram.
So, they are really using your vocal speech to roll out personalized Ads.
This has been a well known phenomenon
That's sounds great, efficient way to do ads
I find it scary and funny when I get "personal" ads for things I have to research for work or school. My favorite so far is the continuous glucose monitor and diabetes related ads - all because of a Dexcom related project.
I remember when several years ago, before iOS had per-photo privacy settings, Fb had collected a bunch of photos from my camera reel and decided to create an album out of them. This was done without any voluntary action on my part, while the app was in the background. It was super creepy.
I think that the constant lies and shady businesses have caught up to them. It could have been something great, but they have abused the trust of people and their privacy too much.
I think the people who care one iota about privacy left Facebook a long time ago
@@hiimjustin8826 Haha, I guess so
Yeah. I doubt meta could sell me a phone or other device
Exactly this, i would never purchase meta no matter how good it is simply because Mark has never openly addressed the privacy issue to my satisfaction , if anything his responses seem more shady when asked about it...which leads me to believe that i cannot trust his products.
No one gives a shit facebook will be fine.
I actual want to thank him, he taught the current generation not to trust them and be cautious about what websites do with your data. That knowledge will be passed down to future generations, who because of his actions with Facebook, will be relegated to a museum exhibit
So instead everyone went to TikTok an app owned by a full blown surveillance state and geopolitical enemy 🤔
@@fsblunt ye still better than being spied by US company
Current generation of idiots. Gen xers Never trusted corporations and we always knew that they were never our friends. Only the cousins of the boomers, the worthless millennials, who gave their souls to corporations.
@@Saffy1 you must be joking
everyone that doesn't trust facebook just goes on a different social media thata can give them the false sense of hope their data is secure because they truly care so much about it.
If you watch Social Network you definitely realize the type of person that Mark is. It’s a great movie and it explains how “intellect” most often is followed by greed and many other “mistakes” like Mark likes to call it.
Malevolence is mistaking, and mistakes are features. Welcome to the future.
Facebooks whole premise has been “we don’t make much money, but we’re still growing every year!” And that falls apart for investors when they show that they’re losing users. It’s no wonder than their value is collapsing.
When I was young, I was taught that all ads were viruses, and even to this day, seeing an ad makes me more reluctant to buy whatever is being advertised out of sheer bloody-minded stubbornness and the pettiest spite imaginable.
Bro calm down.
All you have to do is search up whatever the product you want is and watch or read a review.
That is a very good instinct actually, 99% of advertised stuff is plain shit,you don't need it.
@@thetechrealist As if reviews aren't 99% paid-for shills 🤣
At least in the early 2000's, web page ads frequently really did behave like viruses: the web page would include a piece of script provided by the ad network, and the script replaced itself with the actual ad, allowing them to decide in real time what ad to run. So the mechanism worked much the way a biological virus inserts itself into the dna of a host cell. Since the ad script was throw-away, it was often not of the highest quality, and would sometimes continue to run in the background until the browser was restarted, burning resources and slowing everything down. The situation seems to have improved; I'm not sure if the technology got better, or computers are just a lot faster. But, yeah, that's one reason ad blockers became popular.
I really really hate modern “lifestyle “ or “relatable” type ads. Sell me on features and benefits of the product, don’t try to pretend you are my friend and we’re the same.
Facebook died in my eyes the day I discovered I couldn't physically uninstall it from my phone. It's viewed by my kids and myself as forced spyware, and is just one of those things that is "just there". It's avoided like the plague, because we know what they are. My generation also has a fixed policy of never buying something from an ad you're forced to watch, whether you might want it or not, because we know it's just a organised phishing scam. In some ways they're helping to revive the high street; we're aware, awake, and like going out shopping in the real world again.
That would be your manufacturer's fault for having made a deal with them. Not really FB's fault. If the manufacturer of the device caves and takes their money while selling you unnecessary factory installed software that users can't remove, that's called bloatware. Most companies won't do this on their phones unless it's entry level devices that they're trying to make less expensive for themselves and the customer by having the costs covered by partnering with these unremovable apps.
@Dacia Sandero guys No, buy cheap phones, then flash something private, like LineageOS. Great way to spare money, i know from experience :)
it was honestly one of the reasons I switched to a google pixel phone back in the day so I could control what is installed.
@@user-vn9ld2ce1s whats the best way to backup stuff like contacts before switching to lineageOS?
@@NoahGooder depending on what OS you're now... You can probably export contacts in .vcf format (which you can import in lineageos contact app), or you can back them up into a google account (assuming you are willing to use google apps, which is not needed - lineageos runs fine without them). From what i remember, i just backed up all my files, documents, photos, etc to a computer (just copied them over USB, nothing special). Browser history/passwords can usually be backed up too (depends on what you're using now), and that's pretty much it. If i forgot something, just ask :)
I spent some time with Timothy Larry who was talking about virtual reality, I asked him the question “why would you want to be in virtual reality when you can live in reality” he had no answer!
And isn't it great to know that no matter how much bad publicity, whistleblowers, leaks etc. the company experiences, the average fool is still going to avidly use their products and only aid them in harvesting more and more of your data?
The metaverse seems scary, especially with all that personal data being provided for them.
The shitty thing is that the metaverse is a good idea ( let me underline that it's not a facebook invention) and probably inevitable, but we need to have that technology when we solve the privacy problems and data ownership. We can't keep this world of data robbery...it amazes me that we still don't have strong data rights.
It's really not. It's basically vr chat on steroids because of all the corporate hype.
It's not scary, it's just stupid. You can own a Benz in the Metaverse but still have to catch the bus in real life.
@@TomikaKelly It's scary considering they want you to plug in your credentials and use it to verify who you are and where you work, especially when they want meta to be the standard office meeting app. I can't imagine sending in my paperwork and having them spy on where i do business...gross
@@TomikaKelly bad example, nothing wrong with taking the bus /r/fuckcars
The most disgusting thing is that they always say sorry, but never really care.FB is so untrustble.
right...just waiting for Zuckerburg to finally give this up and run for politics! ; )
@@TheFroneyZone and then be completely destroyed in an election
Their sorry almost looks like a smirk.
Still watching the video, but the seconhand embarrassment I felt at that woman for the implication that women want to see Mark Zuckerberg shirtless is viceral 😂. I absolutely love silence in the crowd when she said that.
Edit: Great video! I've seen your newer ones and you've come a long way with your confidence in narrating your videos :) Love these long-form, informative types of videos, they're really great for when I have downtime at work and am not taking calls.
We know everything you're saying, but you do a really good job or summarizing and articulating this info clearly, good job!!
No one is going to mourn FB’s demise or look back with fond memories and nostalgia. Even as much as people who remember Blockbuster and their awful late fees look back with nostalgia just to name one example.
No one, no one, will do that for Facebook.
look, I'm just going to come out and say it. Google, Microsoft, apple, Nintendo, Sony, they've all recognized the times when they needed to actually deliver a good product and just buckled down and produced it. they all made amazing things at some point and time, be it a nice search engine, streaming platform, game, hardware, or software or something. but Facebook? the more you use them the more you realize they are just in a speedy business model all the time. they always made their stuff addictive and always sold out their morals and cheapened the experience. everyone may not know the exact one and outs of it, but you can tell there's something shady about it. you know there's bots, fake accounts, multiple accounts, lame adds and content, ridiculously algorithms, horrible privacy and personal control, etc. Facebook is like the horrible landlord that you just can't wait to get away from first chance you get.
What stands out to me the most are the "suggested posts" littering my news feed. It's disheartening that Mr. Zuckerberg thinks I enjoy such soulless content. Bottom of the barrel stuff. It's like Facebook is trying to make me dumber.
@@johnnyvivic8730 exactly
You said it so well!! Whenever i go to fb i always feel like i am in a seedier part of the web, i can't explain why...it feels...antiquated...like how myspace mustve felt in the 2000s. a shell of its former self.
Everything you described also describes every other social media platform out there. Except I’d argue it’s even worse with the newer ones like tiktok. Facebook I’d say is mostly used by older folks (by older, I mean 25+). Tiktok is even more egregious with its addicting algorithms, it’s ability to hyper focus someone’s interests making it MORE addicting, it’s design to keep people watching and on the app from inception of the app as opposed to Facebook which didn’t do it till later… I could go on and on but you get the idea. But no, people won’t care until it’s too late and a newer social media site comes along that is much worse.
@Qweq Qweq Fact.
A huge slice of everything that I get on Facebook now is bloody ads, suggested posts, and stuff that has nothing to do with my friends’ status updates.
I feel Facebook (Meta) has an irreparable problem - which is public trust. So much has been said, revealed and leaked that it has an impossible PR mountain to climb. And for a company with such a reputation, anything that you want to do will be greeted with scepticism. As soon as the meta verse was announced and the headset drive began, people already knew the fundamental MO: control the hardware, control the software and sell more advertising. It’s become a false economy.
The silence was DEAFENING...both when he joked about privacy, *and* when the host asked girls to cheer for Mark to take his sweatshirt off. **Tugs at collar like Rodney Dangerfield**
Yehhehhhehhh!
When
@@sharequsman596 the lady who was interviewing him on the stage was like “ladies, cheers for mark to take his sweatshirt off!” And there was 🦗 🦗
@@gildedpeahen876 I meant in the video
@@sharequsman596 2:21
can't wait to see facebook fail miserably and go bankrupt
Same here
I wouldn't hold my breath on that one.
Same. Is there a way to make money off betting that a stock will fall?
@@ilavalolipop yes by shorting. If the stock falls, you make money, if it rises, you pay money to the bank. So you are betting against the stock which is riskier than buying stocks normally
Me 2
This does help explain why I thought it was rather odd Facebook didn't bother trying to make Horizon Worlds work on non Oculus headsets, since that would've given them a wider potential userbase right now, anyone currently more into the SteamVR camp.
I actually was interested in getting into VR stuff, but avoided Oculus stuff very specifically when they added the requirement to login with a Facebook around, and I ended up pickin' up a used Dell Windows Mixed Reality headset instead at a very good price, very happy with it.
I can see and I've noticed that everyone around me is not that interested not only in Facebook but also on Instagram, they do not pay as much attention as they used to. Less comments, less likes, less time with these apps, etc. I hope a healthier era will be next to come.
Any time Zuck has to speak in public it's solid gold, he's literally Richard from Silicon Valley, sweating, stammering and looking like he's cooking under the lights.
the fact that this video and all the news articles talking about facebook are titled facebook and not meta means theyve already lost
Isn't "meta" usually an insult? Like "Wow, man, that's so meta." It's not cool to be postmodern anymore. Thank god.
@@nineteenfortyeight6762 I’m pretty meta at least in terms of games is the best strategy, but in this case it means that no one accepts facebooks rebranding and still all see them as Facebook
About as much reception as the Kremlin attempting to have Russian taught in Polish schools.
I do agree that it's a company strategy. Bold one at that, they're bankrolling the VR sector to eventually reap rewards. FB just doesn't seem to have a killer app or even a good use case for their rather expensive technology. They're selling Oculus for loss (probably) and the device itself is fairly affordable, but you'd need pretty beefy machine to properly use it. And the users seem to be going more casual and mobile than ever before.
There is a trend line with text turning to images to video on social media. It's about translating social experiences and sharing them. VR or the metaverse looks like a step out of reality compared to video and does not look like the right next step for social media
I suspect Meta would be having an easier go at it if they weren't descendent from a company that willfully ignored atrocious customer satisfaction relative to competition. Facebook was never truly "liked" by their consumers, but it was a free product many people found essential with no reasonable competition. That same company now asking people to invest hundreds of dollars in a cutting-edge VR system is a near-impossible sell.
Trump loving boomers like facebook.
I think Facebook needs first to: Get a new CEO, give up control of the news wall, give users control in what their information is used for and regain users' trust before even trying to create platforms nobody will trust in
Yeah sure but you're using Google services which basically does the same thing as Meta. But you probably didn't even know that 😂😂 follow the crowd mate
@@maxjames00077 Good luck trying to pump META stock. That's a hard one
@@maxjames00077 zuck wont suck you off man, stop.
Great take on this - best I've seen.
The guy most known for being super awkward with human interactions, is the boss of the world's biggest human interactions company. What could go wrong?
I don't think there's really any saving Facebook because younger users aren't going to want to use the same social media platform as their parents and grandparents. None of my nieces and nephews use Facebook, and I completely understand. The minute they subscribed all of my aunts and uncles would try to friend them.
And they have to accept to avoid upsetting anybody
But then their account is no longer a private and carefully curated space for them to be themselves. Always being watched by their elders
I don't blame them. After Twitter being bought out by Elon Dickhead Musk, I say we move back to Tumblr or Myspace
I'm a figure artist and my mother follows me on instagram. Every time I post anything she gets all uppity about how she "can't show my pictures to her friends because there's nude drawings everywhere, you'll never get a real job with that!"
I do have a real job, mom. You added me. This is a side thing I went to art school for ffs, it's not like I'm publishing porn lol. My aunt stalked me across the internet for a decade and reported every little thing I did to my parents, so I just stopped having social media. Being watched by family so closely means you can never really post what you want. Oh, and my uncles both liked gay porn photos on facebook so I had to deal with that, I don't think they realized we could all see what they interacted with.
FB wasn't even cool back when it came out when I was in high school, we were basically forced to migrate over. Could my FB page play music and be customized? no!
For a teenager, I can't think of anything more embarrassing.
To be honest, I stopped using my Oculus the moment Zuck bought the company. I think it makes sense to set yourself up as a market leader in future tech, but I don't think that market share alone is going to pull back consumers who are avoiding Facebook/Meta.
You're missing out. It's so good now.
@tradde11 VR is amazing. Love my quest 2
@tradde11 Oh man what isn't great about it. I use it to watch movies, workout and play games. Working out in VR is really fun. But with VR it's really a matter of trying. You can't watch a CZcams video like you can with GTA and think alright looks fun (or not). You gotta experience it. But i understand if you think there needs to be more content before you will buy it. Now it's mostly smaller games still that's out there but i'm sure soon we will get way better bigger games too.
@tradde11 Loool, maybe i am outside 24-7 for work already mate? In the sun day in day out, getting fresh air all day. Also you can do VR workouts outside in your yard :-) fresh air and sun. But dude i dont care about your negative opinions, you asked me what i liked about it and i told you. I'm not asking you...
@@maxjames00077 "I'm sure the Ouya will be getting a bunch of great games soon!"
That's what you VR shills sound like.
Thank you for this video. Super informative, coherent and incisive in drawing the meta big-picture links (ha ha).
dude this is SO eye opening!!!!
I never really got into Facebook. It's weird, at some point I felt like an outcast for not using it (I tried it for like 6 months around when it became a thing and hated the experience, we had a similar social media service in Finland for years before Facebook, but suddenly everybody went there for reasons I never understood) - but nowadays it's no biggie at all, we have so many ways to communicate that FB is kinda irrelevant.
Was it Lunarstorm?
I've never had facebook. Nor have i ever had any real notion to open an account. After it became massive all you would hear is people having falling out's, or people getting sacked from their jobs (firm i work for has loads of examples) cos of what they said on FB and people constantly moaned they wanted to come off it so i thought na... defo not for me then....there was a spell when people would think there was something either weird or sinister going on with me cos I didnt have a FB. The looks i'd get when people asked what my FB profile was and i replied not got one. Nowadays though its nae big deal. obvs having never used it I couldnt comment on what the user experience is now compared to its glory days but its defo dying a death and Zuck knows this hence him spunking aw this money in meta. I'll be honest if it does go tits up which isnt an unrealistic possibility (something that a few years ago wouldve been unbelievable) i'll not have a great deal of sympathy for Zuckerberg.....
@@33rpm97 i got none, zip for him.
00:42 the question is "do you feel like youre violating peoples privacy?"
his answer was 'i started this company with my friends, and other companies wanted to buy our company but we wanted to help connect people'
The guy identifies this and goes back to the original question about privacy, but the woman interrupts and says "thats okay, Do YoU WanT tO TakE oFF thE HooDiE?"
Everyone knows that when people dodge the answer to a question it's because they can't tell the truth. He knew if he said no he would have to explain why, which he didn't want to try to do, considering his entire business model is dependent on getting as much data from users as possible. Facebook doesn't cost money because it pays attention to your web habits and sells it, despite their insistence of the opposite. All you have to do is watch him answer questions and it should tell anyone with half a brain how private the information you put on Facebook really is.
Very good analysis, thank you !
Wow very insightful and interesting video! Thx!
Every time there's a break in major technological advancement the public narrative for the future seems to fall back to virtual reality. There's a scene in the original Jurassic Park from the early 90s where one of the scientists has VR glasses and gloves on and is moving a virtual DNA molecule around with his hands. That's basically the Metaverse. It's an idea that's been around since the 80s that never actually goes anywhere. If you could go back to the 90s and explain Netflix or iPhones, people would be completely blown away. Nobody ever imagined the tech we have now. VR is something everyone has always imagined would be great but in actuality it really isn't.
Yeah I imagine the next big thing is something we still have no idea about.
Yeah. VR 'world' is like flying cars, looks nice but is practically useless.
From my perspective, VR is amazing and rapidly moving forward. People always say negative things about new technology, like old newspaper advertisements about how gas lighting at night will drive animals mad, or how children spent too much time reading, etc. VR is amazing.
@@ioele1000 yeah have you used vr,
the suggestions of using it for most applications is pointless and just less efficient than a normal computer
It’s also pretty clunky without much decent content, and the meta verse is basically just an attempt at making VR chat but really badly.
They should be describing it more like Xbox live, provided they throw enough money at oculus and make some decent games as teleporting is crap, it always feels like a bad wii game but with a 360 view.
I’ve heard some uses but I haven’t seen that much that actually makes enough sense to be used generally
Just to make a point, the Xbox Kinect is a marvel of technology, it’s great at its job and is used regularly for specialised technical work mostly in research. However we don’t gesture at our screens to do things that would be really awkward, and people didn’t really like it on the Xbox
If the Kinect cant break into mainstream I doubt vr ever will
@@chrissmith3587 TLDR: Kinect is trash, doesn't even count as a console. VR isn't "cluncky" unless you have a weak feeble neck, like a chicken. And the technology is already far ahead of what you think, watch ThrillSeeker
I've literally never heard of Xbox connect being used in anything. Not even games, let alone research. I know there are things that can use it, such as the infamous Gmod example, but other than that nothing. And if they are using it for motion research or whatnot, then they can be using MUCH better technology, since motion capture has been a thing far longer than the Kinect has.
Kinect is practically a completely different device. It's the difference between seeing a postcard and actually being in the location. In connect you stare at your normal everyday TV screen, which can be anything from a CRT, to a 72' inch plasma screen. Compared to having specially designed 2K lenses for you to witness gameplay through.
And, VR is already practically mainstream, just like in the early computer days where practically only a university could afford them. VR is MUCH farther along that than. I've been to VR machines arcades, as well as seen some VR exclusive arcades around my area.
Also you may be speaking for yourself, but one of the Italian stereotypes is that they gesture a lot while speaking. And that has long since been a thing. I'm not even italian and I do so as well. Have you not seen a single person gesture with their hands while speaking on a telephone? They can't even been seen yet they still do so.
I agree with the lack of games, but that comes with the new territory. People, just like you are going to classify it as "just a gimmick" as my friend did when the initial HTC Vive came out. And yet years later he is contemplating investing in a VR headset.
And to conclude I has clocked literally thousands of hours in VR. 2,332.2 Hours in VRC alone, not counting all the other VR games I've played.
VR Technology is moving forwards at a rapid pace. They've already created concepts to use holographic displays that are no bigger than your standard glasses. And i got that news as of 7 days ago, from ThrillSeeker , the forefront of VR technology news.
The pivot to VR is a mistake. Even for the minority that want VR entertainment, they want it on a game system where they can be relatively anonymous.
And vr is the perfect place to be anonymous. Voice box and an avatar of your own imagination.
@@CristMakhanya No because meta has a plugin that allows you to arrange meetings with clients at work, zucker wanted meta to be the standard meeting tool..so yes it has plans to expand towards getting more of your information later in time.
Half of the gamers who bought VR were using it to socialize at any given time. Ever gone clubbing in VR?
czcams.com/video/q6P6_U4uvis/video.html
@@sew_gal7340 No one is going to want to use VR for work meetings.
a different approach to this topic, i liked it.
Really good explainer video! Thanks
From a totally unbiased perspective like my mom she’s just frustrated that their is SOOOO much freakin ads and 90% of which are pyramid schemes, fake products, and scams made by fake accounts. She often complains why there is ads on the videos she likes watching on Dodo and cooking channels. From my informed perspective, not only is she right but the amount of ad tracking and fake accounts got me to finally deactivate my account. When Elon Musk questioned Twitter about the amount of bots on their platform, all of the social media platforms were shook.
Great video again.
It is definitely an interesting play they're going for. Seeing the popularity of MMOs and VR chat, it may work, but I'm not sure how people would like the ad filled dystopia versions of those.
Maybe I just don't see what Zuck sees. I just don't see a lot of people wanting to engage in a VR world just to shop or watch videos.
My (unfounded) read is that Zuck is hoping to branch out from advertising. If you can pull off this fundamental transition from being a services company => hardware/software company, you give yourself the autonomy to change your business model as well.
The same way Apple's business model changed dramatically once it won the smartphone market. With iPhone, they profit from the hardware ($1000 per phone), the physical services (support/repair) but they make way more money + margin off the software ecosystem that surrounds iPhone.
The App Store 30% cut, the App Store runs ads of its own, it all just prints money when things are exclusively in the world of pixels. Whereas with advertising, you are limited to monetizing by eyeballs (pay-per-view or pay-per-impression).
With metaverse, I'm sure Zuck believes if FB owns the App Store for VR e.g they take some royalty from every VR transaction (digital clothing, currency, furniture, gaming). Roblox is an example that I'm sure Zuck is looking to emulate.
I can't see many people being interested in this either but I can see their kids growing up with this tech buying into it.
These are good points but I can’t see the value proposition for VR beyond shopping and work, maybe some gaming but even then it’s not great.
Plus Zuck has already shot him self in the foot due to the aggressive pricing and all for developers on the platform.
@@DanielSzilagyi The use in the workplace is extremely limited for the foreseeable future. It's gimmicky and doesn't add value. Other than shopping and gaming though there is the potential for a social network built around this. And as with all internet based innovation there is always porn.
Yeah... I really don't see this whole play working out the way Zuck hopes it will. Reminds me of a scene from The Big Short:
"I might be early, but I'm not wrong..."
"It's the same thing, -Michael- [Mark]! It's the same thing!!"
Of course that one ended up working in Michael Burry's favor, but I don't think it will for Zuck. Actually, the simple fact that he's the one selling it so hard might be enough to kill it. Maybe 20-30 years from now a Metaverse type thing is inevitable. But nobody wants this right now, and they want Facebook's version of it even less.
Sheryl sandberg legit sounded like the BP apology guy in south park
I deleted my Facebook a couple years ago and have missed it ever. Sometimes it’s a little inconvenient when I need to find something that’s only on Facebook but that’s rare and there’s workarounds.
The problem is that publicly traded companies MUST continue increasing their revenue and profit to be considered “healthy”. As much as they might like to “do what they do best” and stay relevant within the social space, they can’t. They are beholden
That is not true. The estimates for Facebook was that their revenue would continue to grow and this revenue growth results in increased dividends. All the drop in price is is the market reacting to the fact that their growth rate has changed I.e. gone negative. Uninformed anti capitalist stuff like this is what makes people distrust the movement
Then maybe the problem lies with publicly traded companies. Or maybe the problem lies with rules and regulations about a new comodity that is seemingly free but can hurt consumers a lot: all their private information.
I’m so sick of Facebook’s community standards. They keep banning you for little things that’s not that serious
if that is your concern, then you are actually a very good client for these companies
Excellent explanation. Well done.
I really hope Facebook fails in this endeavor and people turn to more privacy focused devices… And that actually privacy focused devices are made… like linux phones.
But not enough people will buy those products because they are too expensive, as they will not be subsidised anymore.
Just being based on Linux does not make something privacy focused. The problem to solve is how do you make devices which are as convenient and engaging as what we have now that are both privacy respecting and profitable. I'm not aware of anyone presenting a real answer to this yet.
Says someone on CZcams, logged in on a Gmail account haha. Every company you use steals your data. Google reads you emails to target ads.
@Danny Le OK BOOMER
@@raphaeldwain7834 There is no such thing as online privacy
I stopped using Facebook in 2014 because there was no point to it. For the older generation, it made sense as a way to connect to people you couldn’t otherwise. But for me being in high school, I already knew those people and had their phone numbers or Snapchat, discord or whatever app. Other than that I didn’t use Facebook for anything. Like, I don’t care about what people post, which goes for Instagram. There’s no reason to care about posts on Instagram from my perspective. If someone has something to say or show, they will text it to me. The only social media I’ve used since 2014 is Snapchat specifically to message people.
Maybe I’m in the minority, but that’s how it worked for me.
Q
Well this video aged like milk
I hesitated to open up to social media until 2010.
Now I use it sometimes but I cut back a lot since last year.
I seriously doubt Facebook’s ability to pull off turning Oculus into the next iPhone and Horizon into the next Windows, for a whole host of reasons. They, at best in my vision, could compete with other VR platforms as a games store, but the biggest issue is that VR does not provide any added convenience that the iPhone doesn’t already. To do VR you need dedicated space, the equipment, supplementary technology, privacy (people don’t want to use VR where people can see them), and security (people don’t want to get messed with while in VR). All an iPhone needs is the phone, occasional charging, and either internet or cellular connection. Many steps in phone technology have been to improve ease of use, like waterproofing, being able to unlock your phone hands free, etc.. All of this on top of the fact that Facebook, despite the rebrand, just isn’t hip. They’re corporate and cold and their name taints anything they touch. Their data selling practice is relatively well known, and their aesthetic makes them look like they’ve never left their polished offices in San Francisco for a day of their lives.
VR wont compete with an iPhone... AR will :) And not even compete, it will take over. There is no need for a phone anymore when you can see screens any size through a pair of glasses or even something smaller. Facebook already has tech where you wear a wristband and can type messages with your hands only. The wrist bands knows what your fingers mean to type. It will be a while tho before the phone complete disappears.
The iphone will always stay but VR and AR tech has the potential to create systems and digiital platforms that will replace the social media platforms we know today. Ppl were saying your very arguement when talking about netflix and amazon.
Brilliant!
Further, the VR play requires 100% engagement in the era of ADD and multitasking. Look at every platform from Netflix to FB to CZcams to Tik Tok, everyone of these platforms have become more successful with content of shorter duration. Users will give you the shortest amount of attention span for the greatest return on content utility. If I'm locked into my VR, how am I going to watch a movie, while I check my emails, and simultaneously listening in on a conference call?
@@d33763 Because all of that can work in VR. I got into VR drunk after coming back from the bars one night and somehow ended up in a strip club. I was talking to a guy who was remotely managing servers while getting lap dances.
You can have unlimited screens, and could have your phone in VR. You can go to a meeting in VR, have your laptop, and unlimited screens that nobody else can see or you could share them for work.
They haven't yet integrated social media. People should be able to take selfies with their phones while in VR. Currently asking these ADD zombies to give up their phones is a no-go.
Here is a person in VR going on Omegle
czcams.com/video/ZqiPwy3WhKQ/video.html
The short video thing in facebook and instagram is just a little too much for me. The ones pushed by facebook are pretty corporate or obviously paid and the ones on instagram are almost just for influencers. None of that matters to me at all.
CZcams has it too now:/
"Hey, let's change our name to the thing people hate most about us, but continue to have our least liked employee be our company mascot."
I think the main issue right now for Oculus is two fold:
For the casual market that they appear to be targeting the barrier of entry is too high for such a device without the infrastructure that conventional hardware such as PC and Laptops already have. You're asking a market to invest in a $400-$500 piece of hardware that can't interface with the usual apps and softwares they would usually use on their current devices.
For the gaming market however which is who they should be targeting since these is the market that is already adapting VR well not only is the gaming market more critical with what they are being sold on but also you're asking gamers to basically pick up another console for what is technically just periphery equipment for them which is in itself a tough sell.
I purposefully remove any ad "categories" that Facebook thinks I'm interested in and select hide all ads as often as possible. Honestly, I don't care what it is, I probably don't want to buy it and I certainly don't want it encroaching on my time and space. I want to see posts from my friends, not dumb ads. I don't give a crap about targeted ads. I don't want them to begin with. I'm actually way less likely to buy nearly any product I've seen on an ad just because of how much it annoys me.
I've used Facebook for most of the time it's been available but if things continue to get worse, I might just walk away for good someday. I've been saying that for years, but unfortunately nothing else has come along to seriously compete with it (that isn't also owned by Facebook). I'm certainly not getting involved with their new tech though.
What you describe is exactly Facebook's one remaining advantage, actually: nobody is going to build a direct competitor to Facebook in the same way that Facebook was a direct competitor to MySpace.
This is not because Facebook is so good at what it does. It's because its business model is in decline. The profile-centric social media market has shrunk around Facebook to the point where even they can't get any more growth out of it and have had to repeatedly branch out into other formats.
My recommendation would be to consider what you're actually using Facebook *for,* at the end of the day, and figure out if other apps might do those things better. They usually do - specialization has dividends, after all.
Text and image chat with friends? Discord.
Finding strangers who share your interests? Reddit.
Facebook Marketplace? EBay still exists, as does Craigslist.
Beyond those things... what's even left?
@@PhysicsGamer I think the one key thing keeping me there is that it's the most central place to keep up with the majority of my contacts. Some folks have Discord, or other apps, but not enough of them that I'm willing to fully dump FB. It takes more energy to try and keep track of multiple different apps and websites just to stay connected with smaller groups of people on each. I probably *could* do so if I really needed to, but that would result in losing a large portion of my casual friends/acquaintances most likely. While I don't have close relationships with a ton of people, I'm not ready to actively cut off the "excess". I don't really unfriend people unless their profiles are deleted or I have a massive disagreement in values with them that comes to light.
As obnoxious as the ads are, I haven't yet reached a tipping point where it's enough for me to walk away from FB for good. If things continue as they are in the next few years, it could become a greater possibility for me. I'd just rather see a successful competitor on the playing field first, preferably.
Exactly how I feel. I see more ads than relevant content nowadays and ad blockers aren’t consistently working. It’s to the point I try to scroll as little as possible and just go directly to someone’s page as I think of them and then log out. They don’t realize they’re putting so many ads that it’s now making the app less functional
@@MusicSparkleStar09 I don't intend to be rude, but how old are you? I ask because most of my younger friends don't even have Facebook. If any of us says we have an account we immediately call them a Facebook mom lol. Most of my younger friends have Discord. Discord has actually become my most used social media. And I don't even have any active chats on Facebook. I probably just chat with 1 person there. That's it.
@@Emmanuel_Rocha I was in high school around the time the site expanded from just college to include high school as well, if that helps. Millennial/90's baby.
facebook expectations: "anticipate what the user wants to buy before he even knows it exists!"
facebook reality: *recommends something you already bought and only need one of on repeat*
Like when I entered a childfree group and they started showing me ads related to having babies. So stupid.
Facebook: "I hear you're in university. Here's ads for other universities you can apply for!"
Amazon is the same.
If true, the era can’t end soon enough.
FOR CZcams AND ALL THE SOCIAL MEDIAS
I quit personal social media 2 years ago and couldn't be happier. I'm weaning myself from YT due to getting constantly blasted by ads, especially for TikTok (which I haven't ever used and don't plan to). LinkedIn is the only social media site I use.
how about installing an adblocker?
Yet you are committing on CZcams
@@robertk9936That was addressed in the fucking post
Just subbed. Really like what you’re doing and excited to see what you put out in the future.
keep in mind this guy read maybe 3 articles, changed the wording and reposted it with video from facebook events
Same here. Really good stuff. Would like to know a bit about your background though in the about page 😀
100%. Fantastic content!!! Will do what I can to get the word out - you deserve it. Hotel /AirBnB one excellent also.
Same here
Same. Just discovered today. 💕✌🏼
Excellent breakdown
The funniest thing is I don't even see how "personalized ads" are supposed to be profitable. The closest they've gotten to showing something I actually want is when I'm advertised things that I literally just bought minutes before. Which is pointless because I already have it, I don't need it again.
Fun fact: I use social media less the more I feel like I get personalized content.
Great take. Mark betting that VR as the next social media is one of the most expensive gambles of his life but if he succeed then he will own the entire space. VR as of now is fresh and honestly not great but when VR become almost indistinguisable from reality people will definately get onboard with it.
maybe in 5 or 10 years time we will see if Mark was right
That's the reason they make those avatars on Facebook in the past. Now, it makes sense!
Ironically them pushing the Metaverse has turned me off from VR, specifically the Quest
I’d rather wait for PSVR2 since I already have a PS account and have like 3 free VR games from them(assuming they’d let you play the old games on psvr2)
I LOVE YOUR VIDEOS. It helps me learn things I never knew i needed to learn. So amazing. Your doing something good man.
Love how zuck was trying to get a laugh out of his lack of privacy joke and NOBODY bit
His answer at 54mins... starts with "yeah I'm mean"... gotcha!
I would never, ever, ever put on a headset owed by anything that has/had to do with FB. Who in their right mind would trust that?
Most of the world, unfortunately.
What if it looked like a tiara? 👑
This person had no time to build character before making it big... and based on the way he was acting in college he was as immature as men come at the time. I'm glad FB is losing its steam.
How he acted in college?
@@troylollysaf9311 well iirc, the idea of Facebook wasn't even his in general. It was 2 college dudes (the Winklevoss bros) from Harvard wanting to make a platform for students to talk (ConnectU)
Eventually they brought lizard man to help with the coding but Mark was plotting behind their backs and launched Facebook using ConnectU as the base idea. You should look it up more, there was a huge legal battle between them
If you take this video into perspective too, you'd realize Facebook likes to take other platforms ideas and put it in theirs.
cant wait.
but when?
Great video! What’s with all the stuttering? All good, just wondering.
Great content! You always have amazing analyses on such interesting topics.
Would love to see nothing more than this awful website go out of business
😍
It's all about having control over people's virtual identity where digital assets are getting attached to. This is why they working on systems that people can use their one avatar in multiple apps. Those digital assets might not be restricted solely to VR objects. It may comprise all kind of media and software. They will provide a marketplace, where they can earn some revenue share on purchases. If they choose to implement their own currency, they can also make money on the exchange and work with the money, people don't cash out. I think that Meta is moving away from being depending on sale of advertisements. They seem to prepare for a future with stricter privacy laws, also. Still, the metaverse is a gamble.
I enjoy VR now and then but I feel like they really need to lean into AR if they want any of this to work. We've seen huge era shifts in the way people consume media: from print, to radio, to television, to web, and so on. The thing though is that people have never been asked by any of these technologies to wholly cut themselves off from the world around them and be 100% engaged with the content. You can play youtube video while browsing. You can listen to a radio while cleaning. You can talk to another person in the room while a movie plays (even if they may not like it). VR demands your commitment of attention in a way I just feel like people simply don't want. And that's not even getting into things like needing clear space. I'm 100% aware that the layout of my workroom has been specifically altered over time to accommodate regular use of VR and it's not a viable choice for everyone.
There's very few everyday experiences people do for enjoyment that you don't have the ability to stop and step back from (multiplayer games and broadcast tv, I imagine, being among the few I can think of immediately that aren't niche). Even those have limits: MP games aren't for everyone, even a lot of gamers and the ability to temporarily pause TV with DVR has been a hot feature for going on 20 years it feels like.
Facebook became a medium where every third impression is an advertisement and every video has an ad in the middle. And they wonder why people left. We don’t see our friends anymore…only adds. And before the excessive ads they started only limiting which friends’ posts we saw. Even I stopped signing on. It’s too much.
From my experience in performance marketing I'd disagree on the stategic reason/growth avenue on why FB is pushing the metaverse: Their revenue from the advertisers on the platform is made up from "Impressions" x "Advertiser revenue per impression(+budget inefficiencys)". And while a metaverse and getting access to more personal data could help them increase the advertiser revenue per impression (& potentally sell own digital products), it is really the Impression amount due to increased engagement time that would grow if Facebook could get a successful metaverse in place.
So while their algorithms would benefit, I see the main advantage in taking over every possible advertising space, being entirely competition less and x10ing the amount of Impressions.
when i started on facebook, you needed a university e-mail to register. it has become so watered down in pursuit of new users that it is unpalatable to younger demographics. Teenagers aren’t looking for more opportunities to stay in contact with their parents and grandparents through social media, which is what Facebook currently offers.
76 Trombones. This smacks of The Music Man to me.
facebook honestly from the CEO perspective should've never made their ad system so good. they should've left a little bit of wiggle room so that if something happened they could sort of move to match it for advertisers
Yes, it starts to be super creepy.
I started with your Hotels vs Airbnb video and then this one, your insight is very deep and insightful helping us understand why and what's next, congrats and keep on going!!
Would love an update on this story
The shareholders! They don't care about your company, they want money, growth. Forever growth! You can't even criticise them, they have you by the balls Mark. What he realised is that once you go public things change a lot
After just watching a few minutes of these old interviews I’m wondering why anyone trusted this guy to protect their data and personal information. He always intended to sell you off to the highest bidder.
Selling peoples data off to the highest bidder would be retarded. You can only sell the data once. Why would they sell off their money making machine for pennies on the dollar?
Any evidence?
As someone who works in the ad industry, I think the issue with this thesis is that there is any incentive in the ad/corporate world to admit that your facebook ad spend isnt producing results. In this way FB has an edge in that they can provide worse ad sales outcomes and be protected from any results.
Oh that incentive problem is very real. But they still have to compete with other ad providers. You can compare how much money you made from leads that came via Google vs Facebook. My company does and Facebook is losing.
End of an era? One can only hope so.
Metaverse! Hey Zuck, you managed to go 18 years without hearing of Second Life.
Or alphawworld for that matter. Metaverse buzzwords only feeds management consultants. Dead on arrival.
"Metaverse" was coined in 1992 novel Snow Crash; good book; great author.