The complaint that Facebook faces is that it is too big. This is the reason some regulators and critics want to make the company smaller. They are forcing Mark Zuckerberg to unwind significant acquisitions. But the reply he gave was to let the company get bigger by buying more stuff. The company is steadily making essential acquisitions, and in the last three years, at least 21 deals have been made.
Since December 2020, many of the deals have been announced. During this time, the 1st antitrust lawsuit against the company was filed by the US government. The lawsuit accused the company of maintaining an illegal monopoly in social networking by buying or crushing competitors. The revised and the original complaint are aimed at forcing the company to divest itself of Whatsapp and Instagram.
In the past couple of years, the deals have mostly been into gaming and virtual reality. Zuckerberg has formally announced that gaming and virtual reality are the future of the company. Hence the company’s name changed to Meta.The day after the name change was announced, the company shared how it would spend the money. Many people think that the company needs to break in part to undo deals from Whatsapp and Instagram. Then people should also be worried about the deals the company is making now to build the 2031 version of the company.
A deal to buy Within, the company co-founded by VR pioneer Chris Milk. Metaverse-y deals announced this year include Unit 2 Game, Downpour Interactive, and Big Box VR. Deal with Unit 2 Games will see a collaborative game creation platform called Cryata. Big Box VR makes a popular game for Oculus VR goggles. The company has already announced that they represent the future of the company. The company isn’t the leader in virtual reality. Lots of other big companies are spending a lot of time and money on it. Zuckerberg imagines a future where the company happens to be one of the many companies in the metaverse.
According to the company, “Investing in and building products that consumers want is the key to success. We cannot build the metaverse alone — a collaboration with developers, creators, and experts will be critical. As we invest in the metaverse, we know that we face fierce competition from companies like Microsoft, Google, Apple, Snap, Sony, Roblox, Epic, and many others at every step of this journey.”
Zuckerberg is interested in the metaverse; one of the main reasons is that he thinks it can give the company a way to connect directly with its customers. The company will not have to depend on Google’sGoogle’s phone duopoly and Apple. The company has said it will start publishing the financial results of its augmented and virtual reality labs as a separate unit. It is investing billions to build the metaverse.
Metaverse refers to the shared virtual world environments. To access it, all that people need is the internet. It can also refer to digital space which uses VR or AR. Some people use metaverse to describe gaming worlds. In this, users have a character that can walk around and interact with other players. Many science fiction films and books are set in the metaverse.