The Metaverse is officially the world's biggest money pit. Mark Zuckerberg is burning wads of cash to try and keep the Metaverse relevant as Meta is on track to spend more than $10 billion this year for its failing endeavor. But, while Zuckerberg could very well see the light at the end of the tunnel that the rest of us aren't seeing, Microsoft Gaming CEO, Phil Spencer, isn't a huge fan of the idea.
Spencer recently attended a WSJ Tech Live event where he tried to mince his words when asked about the Metaverse, to no avail.
According to the CNET reporter, Ian Sheer, Spencer described the Metaverse as a "poorly built video game" and that he just doesn't see it as where he would like to spend the bulk of his time. Spencer also appeared to mock the concept of having to wear a VR headset by saying, "The metaverse won't really take off if the first thing I need to do is put a helmet on my head."
On one hand, Spencer does have a point. You need a VR headset to go into and enjoy the Metaverse. However, the Metaverse lacks overall appeal because of its outdated and boring software.
Given that the selling point of the Metaverse is to help you escape a relatively boring life, no one wants to go into a dull virtual world.
"Metaverse is..." question -- Spencer says it's "a poorly built video game." (Says he'll probably get in trouble for saying that.)
"Building a metaverse that looks like a meeting room, I just find it's not where I want to spend most of my time"
Says it's "early early stages"
— Ian Sherr (@iansherr) October 26, 2022
Then again, Microsoft is notoriously VR averse. Unlike Sony, which will launch the PSVR 2 in the next quarter, Microsoft has zero plans for a VR headset for Xbox consoles. Meta is late to the VR party, but the company does have the money to spend. The last time we checked, Meta is still worth approximately $271 billion. We're pretty sure losing $10 billion or more a year isn't as big of a deal if Zuckerberg thinks that it's all worth it in the end.
The only question though is when will Meta cut its losses?
In other news, Spencer delivered when it was his time on the microphone. In addition to his blunt comments about the Metaverse, Spencer revealed that he wants to bring Call of Duty to the Nintendo Switch in the future. Finally, Spencer warns gamers that the Xbox Series S/X and the Game Pass might see a price increase soon.