From the department of Dog Bites Man News, it would seem that once again Facebook has been accused of doing something shady. Sorry, we hope you had your fainting coach nearby before you read such a shocking sentence.
Well, a whistleblower has come forward with an accusation that, if true, would confirm a theory about the company that’s been spreading for years, and would partly explain why you’re always having to recharge your phone.
So for most of last year, CEO Mark Zuckerberg has been in the news for Meta (META) - Get Free Report, the conceptual metaverse gambit that he’s tried to rename his company after, even though no one outside of the tech or business press will acknowledge the change.
Meta has become one of the great boondoggles of our time, and could very well find a place on the “all time great corporate mistakes” list, alongside New Coke and Blockbuster turning down an offer to purchase Netflix.
Meta is supposed to be a virtual world where users can log on and do … something …such as hanging out with friends or spending money to purchase virtual real estate that does not exist and therefore instinctively cannot have real value.
But the concept has not caught on with the public at large, as Meta lost a staggering $9.4 billion last year, and Zuckerberg lost $11 billion in one day. In response, Zuckerberg has reportedly surrounded himself with an inner circle of sycophants who keep telling him that one day people are going to come around.
So clearly, Zuckerberg...
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