JUST IN: Meta announces they'll be shutting down the Metaverse, after pouring $80,000,000,000.00 into the project.

@Polymarket Pretty amazing that a CEO can blow $80 billion and still keep his job

@adamtaggart @Polymarket Zuck owns 61% of the voting stock. So not amazing at all.

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@adamtaggart @Polymarket You are spot on. Yet they have the audacity to say they can’t solve children world hunger. @grok how much could $80 billion provide in # of meals for children in the poorest state in America ?

@adamtaggart @Polymarket shutting down the metaverse doesnt mean they didnt get useful R&D/IP out of it. I honestly have no clue if this is true, but I cant imagine they were just twiddling their thumbs with the $80bil and what we saw does not cost that much to develop

@adamtaggart @Polymarket Is it? Market cap of 1,370,000,000,000.00 Total company life time profits (and counting) of $333,000,000,000.00 You miss 100% of the shots you do not take. And Zuck has a pretty good track record of learning from his mistakes.

@adamtaggart @Polymarket Open AI is about to loss $100 bilion... this $80 billion is nothing 👋🏼

@adamtaggart @Polymarket What about all the people who bought “property” in the Metaverse?

@adamtaggart @Polymarket Its not like they didn't learn anything, whatever they learned, whether its shortcoming or plus points, can be used in future or current projects.

@adamtaggart @Polymarket His company. He structure it so he owns majority of the votes. No one should be able to force him to do anything. If dont like him or how he does things no one should force you to stay. Pretty amazing

@adamtaggart @Polymarket Maybe because he didn't blow 80B and decided those metaverse data centers would make them more money as AI data centers...

@adamtaggart @Polymarket The guy built a top 10 most successful companies in the world. I think you can understand how he kept his job if you really try!

@adamtaggart @Polymarket Big fan of yours Adam, but $80b loss, as spectacular of a failure it is, is 6% of meta’s mkt cap. He has done more right than wrong in the grand scheme of things. Also obv he is the largest shareholder of the company.

@adamtaggart @Polymarket I encourage you to look into this, they’re shutting down Horizon Worlds only. A big portion or that $80B was acquiring Oculus the hardware company and creating other AR/VR software - lots of R&D as well. This isnt an actualized $80B loss, its quite misleading

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@adamtaggart @Polymarket Can’t fault a CEO for taking what at the time was a high conviction bet. Taking bets to grow is table stakes. Magnitude of the bet is a function of leverage in decision making. Zuck has majority voting rights. Shareholders can always leave but they don’t. No surprises.

@adamtaggart @Polymarket They didn't spend 80b on horizon worlds.

@adamtaggart @Polymarket lol, Elon Musk got paid 1 trillion dollars after losing half his company’s stock value.

@adamtaggart @Polymarket he can't be fired because he has a voting majority because of supershares

@adamtaggart @Polymarket Adam, he built the company and holds special voting shares. Let's not downplay this.

@adamtaggart @Polymarket Because he OWNS 60% of the voting stocks, the stocks that really MATTER! Basically he OWNS the company. Little difference than being an employee. Finance 101

@adamtaggart @Polymarket His money, and it went into the economy. People were paid for their labor, and insights gained and technologies developed in the process

@adamtaggart @Polymarket Stock way up since that. Guess the moral for a CEO is keep making bets

@adamtaggart @Polymarket "he only owns 14%" yeah and bro he created over a trillion dollars in value for share holders, $80B is nothing

@adamtaggart @Polymarket Where are all the dems talking about how that could have solved world hunger? @TheTNHoller

@adamtaggart @Polymarket @JacintaAllanMP and @AlboMP do it daily here in Australia and keep theirs 🤷

@adamtaggart @Polymarket Zuck let me hold a million 😭

@adamtaggart @Polymarket What’s annoying is I did not buy the stock at 100 because of all the waste on the metaverse and it’s 6x from there!

@adamtaggart @Polymarket Nothing amazes me anymore after the Epstein files.

@adamtaggart @Polymarket Wait until you see how much money they are going to lose on Ai.

@adamtaggart @Polymarket It helps when you’re the founder with the largest controlling interest in the company.

@adamtaggart @Polymarket Acting like this capital returns nothing is just silly. Some aspects of metaverse will survive I’m sure and this tied into their AI efforts (which of course still might not be validated) I believe.

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@adamtaggart @Polymarket Anyone that actually ever used a VR headset could have told you it was never going to be a "verse".