Facebook’s metaverse fantasy | Financial Times


The world of Zuckerberg’s Metaverse. The company plans to create 10,000 new jobs in Europe over the next five years to build products that will help Metaverse © AFP via Getty Images

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Mark Zuckerberg has some pressing issues to address.

Facebook founder and CEO faces the biggest public relations crisis since the Cambridge Analytica scandal after whistleblowers accused whistleblowers of prioritizing profits over user safety and misleading investors I am. The revelation comes when Congress approaches the passage of a bill package that could disrupt the social media empire that incorporates WhatsApp and Instagram.

But Zuckerberg is busy planning to build the Internet of the future, also known as the “Metaverse.”

Sunday, Facebook Presentation We plan to create 10,000 new jobs in the European Union over the next five years to build products that will help the Metaverse. This is an interconnected virtual world powered by augmented reality and virtual reality that allows online avatars and digital products to move seamlessly. The company states that its products will be interoperable with the products of other technology companies in order to create a cohesive cyberspace.

This development has #techFT questioning whether Zuckerberg’s grand ambition to control future developments of the Internet is more than a distraction from the series of crises the company faces today. ..

What is the Metaverse?

The mysterious world of the Metaverse may be new to readers who have never seen it NS matrix series. This concept originated in Neil Stephenson’s 1992 science fiction novel. Snow crash, A three-dimensional virtual space created by a combination of physical, expansive, and virtual reality, depicting a world in which humans interact through avatars. This idea has been updated in the Wachowski sisters movie. There, humans are unknowingly trapped in a metaverse called the Matrix.

In an interview with The Verge In July, Zuckerberg said, “The Metaverse can be thought of as the embodied Internet that is not only displaying content, but within it.”

Facebook plans to build an interconnected world of VR and AR that users access through PCs, mobile devices, and game consoles. Imagine a world that is “teleported” to a conference room via a digital avatar. Imagine after work, a hologram is placed on a friend’s couch and both parties can watch a movie together without leaving the front door.

The goal is to “incorporate the physics of the world into virtual communication and” give people a presence, “says Zuckerberg.

Facebook bosses claim that VR and AR can bridge the gap created by the video conferencing technology that the world has become accustomed to during the pandemic. He blames the uniformity of online meetings to dull the sensory experience, which makes it easier to forget social interactions. And I think part of that is because we don’t have such a presence in the universe. “

Zuckerberg’s Metaverse is not in contact with. .. .. reality?

Metaverse incorporates a variety of technologies such as cryptocurrencies, NFTs and livestreaming. VR and AR are essential as part of the metaverse that governs social interaction. The two are often talked about at the same time without a full explanation of how the underlying technologies differ. The VR headset obscures the user’s field of vision and replaces it with a virtual environment that is emitted through the built-in screen. In contrast, AR devices such as smart glasses enhance the user’s surroundings and project new information onto what the user is already seeing.

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VR headsets provide an immersive virtual experience © Getty Images

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.. .. .. AR devices use the actual settings © Snap

VR and AR are promising in certain industries.Game companies are gradually using VR more effectively, but innovation is also in this respect. It has been Disappointed. The retail sector is experimenting with AR to encourage consumers to buy fashion and beauty products.

However, Zuckerberg’s vision is for the Metaverse to enhance the interaction between individuals in different locations. He envisions office workers, school friends, and gamers alike using Facebook’s Metaverse to collaborate, socialize, and compete. After all, Facebook is a social media company.

But whether VR and AR bring something that consumers really lack in long-distance relationships is still under consideration by the jury. It might be cool to move to another planet during a video game, but do you really need to see your colleague’s face in 3D instead of 2D during the morning meeting? I’m a little uncertain.

In order for Metaverse to be as transformative as the leading innovations in fax machines, computers, smartphones, etc., it must at least bring convenience to our lives. Technology that is well integrated into our daily lives can make this claim towards bringing convenience. This includes the embarrassed social media site founded by Zuckerberg.

Internet of Things (5)

1. Amazing cryptography
Over 100,000 had As projects to more widely distribute digital money around the world accelerated, their eyes were scanned in exchange for a cryptocurrency called the World Coin. Worldcoin has distributed about 30 iris-scan hardware devices called “Orbs” to early users on four continents. These devices will be rewarded for registering more users. The orb takes a picture of the user’s eyeball and creates its own code that can be used to request a free digital token. This project, as well as the economic concept of basic income, represents one of the most ambitious and complex attempts to distribute cryptocurrencies to the world’s population.The project is already facing enthusiastic criticism and its own developer Admit “The results are uncertain.”

2. Quantum will be published
Investors are turning to quantum computing companies as the 35-year-old field transforms from a scientific effort to a fast-growing industry.Two start-ups using quantum computer blueprints in operation this month made Or announced their stock market debut. IonQ became the first quantum computing company listed on the New York Stock Exchange. The market capitalization is about $ 2 billion. A week later, Righetti Computing announced that it would fluctuate as it was acquired by a special-purpose acquisition company, a type of listed cash shell. The deal values ​​it at about $ 1.5 billion.

3. Netflix is ​​working on a conflict of values
Video streaming service Defined With a radical, “ruleless” corporate culture, he praises the importance of both creative freedom and progressive values. But now these two ideals are in conflict with each other. Dozens of Netflix workers went on strike in protest of the company’s decision to stream. closeDave Chappelle’s comedy special, where comedy talents mock transgender people. The strike was greeted by protesters who said they did not require the Chapel Special to be removed from the streaming platform. Instead, they’re asking Netflix to invest as much money in “transphobic content” as in “transphobic content.”

4. The true moment of playing cards
Donald Trump On launch A social media platform called TRUTH Social will be unveiled in a merger with a blank check company as the former US President seeks to take advantage of its popularity among a large number of Republicans. The move comes after months of speculation about whether Trump will launch a media company to compete with Twitter and Facebook and set the stage for another presidential election in 2024. Following the January 6th attack on the US Capitol, from the platform, along with Facebook, YouTube, and other large social media networks.

5. Abu Dhabi Pension Fund goes to Indonesia
Abu Dhabi Investment Authority Leading Financing for Indonesia’s GoTo is expected to increase the valuation of Southeast Asia’s largest start-ups to at least $ 28.5 billion. ADIA’s subsidiary has donated $ 400 million out of $ 1.5 billion in funding to Indonesia’s SuperApp, which provides ride-hailing, food delivery, e-commerce and financial services throughout Southeast Asia. The funding round is ahead of the GoTo listing next year. The pension fund has already promised to invest billions of dollars in Southeast Asia’s largest economy, including Indonesia’s new sovereign wealth fund.

Transfer from Sifted — European Startup Week

Forget what Goldman Sachs said about useful quantum computing 5 years ahead In finance. Banks can already gain 100 times the advantage by using quantum computers to solve problems such as portfolio optimization and fraud detection fraud. According to Spanish startup Multiverse Computing.. Raised € 10 million in seed funding this round, the company has developed quantum software products for customers such as BBVA, Bankia, the European Tax Office and Bank of Canada.

Elsewhere European start-upsNik Storonsky, founder of FinTech Revolut in London, Opened Family Office in LondonIt’s been a few months since I became a millionaire. Companies House records show that a 37-year-old entrepreneur set up an office last month under the name of the Stronsky family.

The new fund has already backed some companies, such as Sweden’s Tink, and is more likely to start investing some of its estimated $ 7 billion in assets in tech start-ups. In the past, successful tech founders such as Taavet Hinrikus from Wise and Guillaume Pousaz from Checkout.com have opened family offices to increase angel investment.

Technical tools

HTC Vive Pro 2 full kit lined up on shelves this monthIncludes the latest version of the company’s virtual reality headset. The Vive Pro 2 is the leading VR headset visually available to consumers, but at a high price. The headset alone costs £ 719, and the full kit, including the controller and base station, retails for £ 1,299. The headset is a bit clunky, but it has impressive visuals, including a 120 degree field of view and a 120Hz refresh rate. Smoother VR gaming experience..

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