Mark Zuckerberg recently revealed that, according to him, the future of Facebook are the young adults and the metaverso. Amid reports that the company misled shareholders about the significant drop in teenagers, Zuckerberg said the company was “retooling” to make “young adults” the its main priority.
Regarding this, the company plans to make “significant changes” to its Facebook and Instagram apps. He also plans to spend billions of dollars building his vision of a “Metaverso”.
The future of Facebook is the young and the metaverse, according to Zuckerberg
Quoting theincreased competition of TikTok and iMessage, Zuckerberg revealed that the company will do more to win over “young adult” users between 18 and 29 years. During the company’s third-quarter earnings call, Zuckerberg said TikTok’s rival, Reels, would have been “as important to our products as the Stories”.
Zuckerberg also revealed that they will be there significant changes to Instagram and Facebook over the next year.
In addition to this, he said the company was “retooling” internally to make young people its “North Star”. He added that the change “will take years, not months”. The issue of younger users has been particularly thorny for the company.
The revelations of a whistleblower about Facebook’s internal research on the mental health of adolescents prompted a series of Congressional hearings on the child safety. At the same time, other internal documents indicated that Facebook and Instagram dealt with significant declines in commitment among teenagers and young adults for years.
Zuckerberg said another big priority for the company would be build his vision of a “metaverse”. He did not comment on reports that the company plans to change its name. However he made it clear that the company has significant ambitions. “Our goal is to help the metaverse reach one billion people,” he said.
The company concluded by revealing that it will report in the future two sets of financial data: one for his “Family” of applications, which includes Facebook, Instagram, Messenger and WhatsApp. The second will be for its division Reality Labs who oversees his augmented reality work e virtual.