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Mark Zuckerberg wants one billion people to live in his Metaverse and to spend on fake digital goods

Mark Zuckerberg on Wednesday revealed his ambitions to bring a billion people into his virtual reality world – the Metaverse – and to create a digital economy made up of fake products so that users can “express themselves.”

Facebook CEO spoke with CNBC’s Jim Cramer as he tries to blur the lines between virtual, augmented, and real reality in his futuristic world.

“Our North Star is that by the end of the decade we hope to have reached about a billion people in the Metaverse who are each doing hundreds of dollars in commerce, buying digital goods, digital content, and various things to express themselves,” said Zuckerberg. †

‘So whether it’s clothing for their avatar, various digital items for their virtual home or things to decorate their virtual meeting room. Tools to be more productive in virtual and augmented reality and across the Metaverse in general,” he added.

At a time when the US economy is facing a period of inflation and Americans are paying more than $5 a gallon for gasoline, Zuckerberg wants to pioneer what he calls the “creator economy.”

“I think there will be a huge economy here. It will offer makers many opportunities,” said the Harvard dropout. ‘That’s why you hear my stories about the creative economy so often. I’m just really excited about a world where you’re going to have millions more people who can do creative work that just makes them happy in their job instead of things that they could do today because they feel like they’re in it to make money .’

He went on to compare Metaverse’s “playbook” over the next few years to similar ones he previously used to build the Facebook and Instagram empires, which is essentially “monetization” after “building services.” , serving as many people as possible, getting our services to a billion, two billion, three billion people.’

Zuckerberg also told Cramer that he plans to lead WhatsApp’s next chapter, which includes “business messaging,” as he aims to promote e-commerce through the free global messaging app.

The “Metaverse,” which Zuckerberg once described as “the successor to the mobile Internet,” is a collection of virtual spaces where you can game, work, and interact with other people who are not in the same physical space as you.

Meta CEO Mark Zuckerberg (pictured) Jim Cramer told CNBC on Wednesday that he wants a billion people to join his virtual reality world — the metaverse — and buy digital products in what he calls the

Meta CEO Mark Zuckerberg (pictured) Jim Cramer told CNBC on Wednesday that he wants a billion people to join his virtual reality world — the metaverse — and buy digital products in what he calls the “creator economy.”

The Metaverse (pictured), which requires wearing a virtual reality headset, allows people to play, work and interact online with others who are not in the same physical space as you

The Metaverse (pictured), which requires wearing a virtual reality headset, allows people to play, work and interact online with others who are not in the same physical space as you

Zuckerberg, whose Metaverse avatar is pictured, wants future users to join Metaverse to

Zuckerberg, whose Metaverse avatar is pictured, wants future users to join Metaverse to “do creative work that just makes them happy as their job rather than things they could do today.”

The Facebook CEO's goal is to increase

The Facebook CEO’s goal is to increase “money generation” after getting billions of people to join his company’s latest digital platform – a similar “playbook” that Facebook, Instagram and WhatsApp have over the years. has made popular over the years

And while Facebook is in charge with the Metaverse, it explained that it’s not a single product a company can build alone.

“Like the Internet, the Metaverse exists whether Facebook is there or not,” Facebook once said in a statement.

“And it’s not built overnight. Many of these products will not be fully realized until the next 10-15 years.’

Zuckerberg’s plans come after he dropped out of the top ten richest billionaires in the world in March due to his plunging Meta stocks. He currently ranks 17th on the list and has lost a whopping $64.4 billion — more than his current net worth of $61.1 billion.

Meanwhile, Meta’s chief operating officer, Sheryl Sandberg, stepped down from the Meta company earlier in June as part of an investigation into her use of company resources to help plan her upcoming wedding.

Sources close to Meta’s inner workings told the Wall Street Journal that Sandberg, 52, made her surprise departure as the company’s number two, as the company continues to assess her upcoming marriage to Kelton CEO Tom Bernthal, actor Jon Bernthal’s brother.

While the sources said the investigation was still ongoing, a spokeswoman for Meta urged DailyMail.com that, “Sheryl did not misuse company resources in connection with her wedding planning.”

“This has nothing to do with Sheryl’s departure from the company,” the insider source added.

Sandberg shocked the business world when she announced her departure from the company on June 1, saying she felt “burned out” and feeling “punching bag” over the criticism Meta and Facebook recently received, the WSJ reported.

Sources close to Sandberg, seen as the most powerful woman in tech, said she suffered a burnout from the controversy surrounding Meta and Facebook after she decided to step down from her role as Meta's COO.

Sources close to Sandberg, seen as the most powerful woman in tech, said she suffered a burnout from the controversy surrounding Meta and Facebook after she decided to step down from her role as Meta’s COO.

Sandberg had spent 14 years building the tech giant with Mark Zuckerberg (right).  She publicly announced her plans to step down on June 1 in the fall

Sandberg had spent 14 years building the tech giant with Mark Zuckerberg (right). She publicly announced her plans to step down on June 1 in the fall

Its parent company, Meta Platforms, founder Mark Zuckerberg and other executives have faced mounting pressure to re-evaluate their social media services after a whistleblower report from last year showed the company was well aware of the negative effects Instagram was having on teenagers, but little has changed.

And now the Pao Alto-based company fears more backlash over its bid to expand consumerism on its digital platforms as economists at Goldman Sachs have doubled the chances of the U.S. economy slipping into recession in the coming year as they expand their growth outlook. lower due to concerns about inflation and interest rates.

As of Thursday morning, the average price per gallon of gas in the US is $5.02, according to AAA.

In some parts of the country, there are reports that the price is approaching or surpassing $7 per gallon.

Gasoline prices set another all-time high on June 9, averaging $4.97 per gallon

Gasoline prices hit another all-time high on June 9, averaging $4.97 per gallon

Food prices have also risen rapidly, impacted by rising raw materials in the wake of the Russian invasion of Ukraine.

Groceries rose 11.9 percent last month, while eating away from home rose 7.4 percent.

Prices for services such as rent, hotel accommodation and air travel were also high last month.

High inflation has also forced the Federal Reserve into what will likely be the fastest series of rate hikes in three decades.

By aggressively raising borrowing costs, the Fed hopes to cool spending and growth enough to curb inflation without sending the economy into recession. It will be a difficult balancing act for the central bank.

Inflation is forcing Americans to make major changes in their shopping and spending habits, with the majority expecting price increases to worsen in the coming year

Inflation is forcing Americans to make major changes in their shopping and spending habits, with the majority expecting price increases to worsen in the coming year

Inflation was higher than economists had expected in May, reaching the recent peak of 8.5 percent in March

Inflation was higher than economists had expected in May, reaching the recent peak of 8.5 percent in March

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Inflation has remained high, even as the sources of rising prices have shifted. Initially, robust demand for goods from Americans stuck at home for months after COVID hit caused supply chain shortages and snags and pushed up prices for cars, furniture and appliances.

As Americans return to spending on services including travel, entertainment and dining out, the cost of airfare, hotel rooms and restaurant meals has skyrocketed.

The US central bank is expected to raise its key rate by another half a percentage point in July. The overnight interest rate has risen by 75 basis points since March.

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