geralt / Pixabay
Facebook Inc (NASDAQ:FB)'s“metaverse” –a digital world project– will see the help of 10,000 people the company is planning to hire in the European Union in the next five years. Facebook is upping its game as rivals Microsoft Corporation (NASDAQ: MSFT), Roblox Corp (NYSE: RBLX), and Epic are working on similar versions.
Get The Full Series in PDF
Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.
Q3 2021 hedge fund letters, conferences and more
Value Partners Asia Bets On India In Hopes Of“Demographic Dividend”
Value Partners Asia ex-Japan Equity Fund has delivered a 60.7% return since its inception three years ago. In comparison, the MSCI All Counties Asia (ex-Japan) index has returned just 34% over the same period. The fund, which targets what it calls the best-in-class companies in "growth-like" areas of the market, such as information technology and Read More
As reported by CNBC , the company will focus on hiring highly-skilled engineers in Germany, France, Italy, Spain, Poland, the Netherlands, and Ireland. Nick Clegg, Facebook's head of global affairs, and Javier Olivan, vice president of central products, underlined how important for the development of the project Europe is.
“From the thousands of employees in the EU, to the millions of businesses using our apps and tools every day, Europe is a big part of our success, as Facebook is in the success of European companies and the wider economy.”
“As we begin the journey of bringing the metaverse to life, the need for highly specialized engineers is one of Facebook's most pressing priorities,” they said.
“We look forward to working with governments across the EU to find the right people and the right markets to take this forward, as part of an upcoming recruitment drive across the region.”
The metaverse is a virtual environment in which all Facebook applications will be found and where it will be possible“to live a second life online.” Mark Zuckerberg 's idea of the metaverse is that of a virtual environment in which it is possible to be present with other people from any existing digital world.
The concept of the metaverse is deeply rooted in virtual reality. It is conceived to be an immersive world that will allow its users to interrelate as they would do in real life through the use of VR devices.
Facebook has stated that the project“won't be built overnight by a single company” and will seek the help of other companies for the execution. In fact, according to the BBC , the firm recently invested $50 million in funding non-profit groups to help“build the metaverse responsibly.
Facebook is part of the Entrepreneur Index , which tracks 60 of the largest publicly traded companies managed by their founders or their founders' families.
Updated on Oct 18, 2021, 9:30 am
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.