The tech CEO wants his team to be more streamlined
Meta is prepping for a market downturn that looks to be strong. The CEO of Meta, Mark Zuckerberg, spoke on future changes in the way the company hires new talent. The planned changes include decreasing the number of engineers hired from 10K to a cap of 7K instead. This comes as the CEO continues to build his metaverse amid his claims that the company could stand to lose money in the process.
Not an easy road
Zuckerberg made comments that the current economic situation would indeed be the reason for the hiring changes as he continues to plan a series of actions that would help it face a market downturn in the future. The estimated amount of engineers he plans to hire is much less than the original 10,000 that was planned which means that there is a 40% discrepancy from the original plan of building Meta.
Zuckerberg also spoke on how his hiring process will focus on more aggressive goals that would probably discourage some from working at his company, he also spoke on how he feels that some people should not be at the company. The new rules and goals of hiring are meant to whittle down the team to a high-production, cost-efficient machine.
Expensive Turn
The turn from just a social media company to one that is completely focused on the metaverse and the technology to build it comes at a price. Zuckerberg has made the commitment to the project while stating multiple times that he is well aware of the financial losses the company will take. The amount of funds for R&D dedicated to the creation of Meta’s metaverse has been greatly increased as the team is focused on creating hardware that will totally immerse users.
The amount being spent on research and development is a small price to pay in Zuckerberg’s eyes as he sees the potential of the metaverse as billions of people that can possibly spend hundreds a month or take part in his monetization services. Facebook has made billions with its ad services and monetization schemes before and there are plans to have those platforms scaled for the metaverse. Currently, the company is offering digital clothing for its avatars as a way of monetizing digital goods.
The future of the metaverse is not set in stone, as stated in many other articles the metaverse is not fully defined nor is it only one version, it can be many things all at once The plans of Meta are huge and its CEO wants to create a world in which he has a strong belief, time will only tell if his gambit pays off.