“An estimated $100bn investment in an unknown future is super-sized and terrifying, even by Silicon Valley standards…the age of excess is over - big tech companies need to lose some weight and get into shape and earn the right to win the next major wave of innovation”.
These were comments made this week by Altimeter Capital CEO and investor in Meta, Brad Gerstner, in an open letter to the Meta CEO Mark Zuckerberg regarding their $10bn a year investment in the metaverse.
Meta, formerly Facebook, made a monumental pivot last year to capitalize on the explosive growth of the metaverse.
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.