They have perfect sense. The problem is they simply have too much money. Tech monopolists have already maxed out their markets, but their corporate valuations depend on endless explosive growth. So they need to always be chasing the next big thing. They need to find new world changing products, or at least been seen as on the path to such products.
They really don’t have any good places to invest all their money. What good investments does Zuckerberg really have to throw his profits at? Facebook and Instagram really don’t have a lot of growth potential anymore. The market is tapped out. So instead Zuck throws his billions at long shot projects like LLMs and the Metaverse. He’s at the point where the only investment left to him is to buy lottery tickets.
They have perfect sense. The problem is they simply have too much money. Tech monopolists have already maxed out their markets, but their corporate valuations depend on endless explosive growth. So they need to always be chasing the next big thing. They need to find new world changing products, or at least been seen as on the path to such products.
They really don’t have any good places to invest all their money. What good investments does Zuckerberg really have to throw his profits at? Facebook and Instagram really don’t have a lot of growth potential anymore. The market is tapped out. So instead Zuck throws his billions at long shot projects like LLMs and the Metaverse. He’s at the point where the only investment left to him is to buy lottery tickets.