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Metaverse is already contracting

by on28 March 2023

Was not the big bang everyone hoped for

As we have predicted, Mark Zuckerberg’s hopes that the “metaverse” will be a big thing are being dashed.

According to a new report from the Wall Street Journal, Disney has eliminated its entire metaverse division of roughly 50 people.

Disney has reportedly dropped plans to explore the metaverse as the company begins layoffs of roughly 7,000 people across the company.

According to the Wall Street Journal, Disney’s metaverse team was led by Mike White, who will remain at the company. Disney did not immediately respond to a request for comment late Monday.

If anyone was going to support the metaverse idea it was going to be Disney. Disney’s metaverse division, which former CEO Bob Chapek dubbed “next generation storytelling.”

The problem was that when the idea was announced there was no tech ready. All Zuckerberg had was an “innovation” where you say coworkers as avatars.

Even Zuckerberg started to see that the idea literally did not have legs and made a pivot in February, announcing that his company was going to focus on another buzzword instead -- artificial intelligence.

The idea of a metaverse has been around since the 1990s but it never arrived virtual reality headsets are still huge and expensive.


Last modified on 28 March 2023
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