- As Facebook turns 20, Zuckerberg plots Meta’s future with long-term bets.
- Expensive wagers on metaverse and AI may not pay off for years.
- Meta’s course ahead relies on Zuckerberg remaining firmly at helm.
Zuckerberg’s Meta vision
As Facebook approaches its 20th anniversary, CEO Mark Zuckerberg is mapping out the long-term future for the company now known as Meta.
Unlike founders of other major tech firms like Amazon and Google, Zuckerberg has not yet stepped down, remaining firmly at the helm almost two decades on.
Meta’s long-term bets
He is making big, expensive bets on developing areas like the metaverse and artificial general intelligence that likely won’t pay dividends for years.
While virtual reality division Meta Reality Labs has already lost $47 billion since 2019, the company’s stock has surged over the past year, affording Zuckerberg patience.
Tech odyssey
Still, he has faced criticism over unconvincing metaverse promotion and strategy pivots. Executives acknowledge emerging tech bets are risky with no guarantee of success.
But as CTO Andrew Bosworth stated, it’s “the only way to remain relevant over the long run.”
It remains unclear if Zuckerberg will ever relinquish control like Jeff Bezos.
For now, he appears intent on spearheading Meta’s next chapter focused on long-term technological moonshots, despite doubts over payoff.
Given his consolidated power, the course ahead depends on his prerogative.
