Facebook is in trouble, says big short Michael Burry

Source: The Street

Mark Zuckerberg has an ever-growing list of critics and detractors.

The market value of Meta shares has fallen by nearly $570 billion since January.

He is mocked by his billionaire peers, Elon Musk and Mark Cuban.

For the first time ever, Meta's revenue is expected to decline this year due to competition and a cooling economy, among other factors.

Last month, Zuckerberg acknowledged the company's days as a growth darling were over by freezing hiring and reorganizing some teams.

As opposed to being a futuristic metaverse, Horizon Worlds' image quality is reminiscent of outdated technology.

Burry is known for betting on the collapse of the subprime loan market, which led to the 2008 financial crisis, with good reason.

"Seems Meta has a New Coke Problem," Burry posted on Twitter on October 15.

Coca-Cola executives were surprised by the outrage.

It seems Zuckerberg won't give up on metaverse just yet.

A new virtual reality headset has just been unveiled by the company for $1,500. Meta Quest Pro, the headset, will be available on October 25.

We hope that everything turns out well for the metaverse and that the users can experience something remarkable.