Bloomberg Technology published this video item, entitled “Zuckerberg’s $71B Wealth Wipeout” – below is their description.
Jefferies Analyst Brent Thill joins Emily Chang to discuss how, even in a rough year for tech billionaires everywhere, the Meta CEO Mark Zuckerberg’s losses stand out – and how the metaverse is weighing on this loss.
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About This Source - Bloomberg Technology
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
A metaverse is a network of 3D virtual worlds focused on social connection.
In futurism and science fiction, the term is often described as a hypothetical iteration of the Internet as a single, universal virtual world that is facilitated by the use of virtual and augmented reality headsets.
The metaverse is something which many in the early 2020s are actively engaged in developing: an entirely online, virtual and alternative reality, in which people will be able to conduct many forms of business and social interaction – virtually.
The movement towards a metaverse gathered significant pace and attention when Facebook’s parent company rebranded itself to “meta” in 2021.