They backed the wrong horse RE "The Next Big Thing", and they're being stubborn about admitting it IMHO. Sunk costs and all that.
I think everyone was obviously aware that "the metaverse" and VR was obviously not what the world needed, yet they pivoted the whole company to it while they totally missed AI taking over ~everything else. Yes yes llama leak/release etc, but I am not really seeing them making any product efforts in the AI space (e.g. no ChatGPT competitor). Apple fell for it too somehow and spent gazillions on a VR headset that no one will even remember in 18 months, which is interesting how two parts of FAANG totally totally totally predicted the market completely and entirely wrong. Group think? Corporate sabotage? Corruption/fraud? It beggars belief, really it does - this was so obvious to anyone yet these two huge huge tech companies went all-in on dorky VR that will go the same way as 3D TV/movies (remember that?). Amazing really.
I think everyone was obviously aware that "the metaverse" and VR was obviously not what the world needed, yet they pivoted the whole company to it while they totally missed AI taking over ~everything else. Yes yes llama leak/release etc, but I am not really seeing them making any product efforts in the AI space (e.g. no ChatGPT competitor). Apple fell for it too somehow and spent gazillions on a VR headset that no one will even remember in 18 months, which is interesting how two parts of FAANG totally totally totally predicted the market completely and entirely wrong. Group think? Corporate sabotage? Corruption/fraud? It beggars belief, really it does - this was so obvious to anyone yet these two huge huge tech companies went all-in on dorky VR that will go the same way as 3D TV/movies (remember that?). Amazing really.