Metaverse News

Phil Spencer Is Not Sold On The Metaverse

The CEO of Microsoft Gaming, Phil Spencer, is the latest technology big-whig to take a shot at the metaverse. During The Wall Street Journal‘s Tech Live conference late last month, Spencer was asked to define the metaverse, which he described as “a poorly built video game.”

“Today it’s a poorly built video game,” Spencer said, according to Tom Warren. “Building a metaverse that’s like a living room is not how I want to spend my time. What I see in the metaverse world is that we’re at the early stage and this will evolve.”

Several other technology industry executives are also down on the metaverse. Apple’s SVP of worldwide marketing, Greg Joswiak, said that the term metaverse is “a word I’ll never use.” Meanwhile, Disney CEO Bob Chapek said that his company tries “not to use” the word metaverse “because, for us, that’s a big, broad term.”

Since rebranding itself as Meta, Facebook has had a hard time finding its footing and, more importantly, financial success. According to CBS, Meta’s stock market value has fallen by $700 billion since last September.

(All information was provided by CBS, IGN, The Verge, Twitter, and Wikipedia)

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