Bears.
Facebook shares plunged to a five-month low, Monday morning, as investors came to terms with founder, and Kauai land baron, Mark Zuckerberg’s pivot toward a surf-infused Metaverse where all manner of boy, girl, gender non-specified can foil with superstar Kai Lenny.
Per the original announcement, Zuckerberg’s underlings ask him if he’s ready for a VR foiling “sesh” to which the world’s 5th richest man replies, “Now this is more my style.”
He is then transported inside a game wherein he dresses in whiteface then paddles into left and goes right, bobbling on his way up.
Lenny provides encouragement, telling him to “hang in there.” Zuckerberg responds, “You’ve gotta pump it to jump it,” then gets second place.
Wall Street was not won over with CFRA analyst Angelo Zino telling investors, “(The foil Metaverse) will take years to come to fruition while coming at a steep price.”
Bank of America estimated that Facebook will sink over $50bn into the foilverse at a risk of “capital destruction.”
Others, though, were less bearish with James Muldoon, a senior lecturer at the U.K.’s University of Exeter, saying, “Meta wants to own the digital infrastructure of 21st century life. They want to be the first mover in a new world of product, so that their hardware and software becomes the default.”
What software is needed for foiling?
Currently more questions than answers.
