Why you never heard the words “metaverse” or “VR” at WWDC23.

Metaverse market value predictions
McKinsey: $5 trillion
Citi: $13 trillion

Reality:
https://www.thenation.com/article/culture/metaverse-zuckerberg-pr-hype/

https://www.businessinsider.com/metaverse-dead-obituary-facebook-mark-zuckerberg-tech-fad-ai-chatgpt-2023-5

via @FrankPasquale

Lessons From the Catastrophic Failure of the Metaverse

Did the “creative class” learn anything from buying into a product that was obviously destined to flop?

The Nation
@counternotions @FrankPasquale while I'm all for dunking on Zuck and Meta, the real takeaway here is just how *wrong* McKinsey and Citi (who are among the kingmakers, mind) managed to be.
Either they're incredibly gullible (which wouldn't be good) or they're in on the steal (which wouldn't be good) but, in any case, the idea that they're the ones who decide what companies get to live is chilling.
@pgcd @FrankPasquale They maybe greedy, but they're not gullible.
@counternotions @FrankPasquale no argument re: greedy, but I wouldn't discount the gullible thing - somehow Zuck made a lot of money and if Zuck tells you he's gonna make more money, it might be easy to become gullible.
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