What You Need to Know About SoFi’s IPO Offers

Meta Platforms Sees its Future in the Metaverse and Artificial Intelligence

A Rough Year

Meta Platforms (META) is having a rough year. The company’s stock price was cut by nearly half since January 1 as user growth has slowed. Longtime COO Sheryl Sandberg announced she will leave the company this fall.

Amid the current stumbles, CEO Mark Zuckerberg envisions a pivot for the company that once focused solely on its social media platform, Facebook. Zuckerberg sees the metaverse as an important engine of growth that will support the company’s continued evolution.

Population: One Billion

The metaverse loosely refers to a digital world that incorporates augmented reality in order to connect the virtual world with real life.

Zuckerberg envisions a billion people congregating in the metaverse, which will offer consumers options to spend their money on all things, virtual and digital. The sector’s broader goal is to create a more immersive experience than what can be achieved through just text, photos or videos. To this end, Meta’s CEO plans to invest considerably in research to support his metaverse vision.

Concurrent Disdain and Enthusiasm

While some industry giants like Warren Buffet and Bill Gates have expressed disdain for the non-tangible NFTs that feature prominently in the metaverse, others favor the idea. A recent McKinsey report projected metaverse revenues could reach upwards of $5 trillion by 2030.

Meta’s ambitions come amid a concurrent push by the company to build out its artificial intelligence. The goal is to boost advertising profits, which form the basis of its business model. Given the recent rout in the NFT market and a potential recession on the horizon, time will tell if Zuckerberg’s vision can ultimately become a reality.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

TLS 1.2 Encrypted
Equal Housing Lender