Written by Brenda Nakalema

Metaverse new catch phrase for 2021

There has been much discussion about whether or not the “Metaverse” is likely to be highly investable, the timeframe within …

There has been much discussion about whether or not the “Metaverse” is likely to be highly investable, the timeframe within which the concept will become mainstream and whether or not investors are right on the money in getting their hopes up about what it could spell for the future. According to Puerto Rican billionaire businessman Orlando Bravo, the Metaverse has a “big time” investment case.

As the managing partner of Private Equity firm Thoma Bravo, Mr Bravo thinks Metaverse is the hottest word on the street and is likely to be a great investment. While many have considered the Metaverse a gateway to a dystopian future for humanity, others like Mr Bravo see it as a gateway to massive opportunity.

Thoma Bravo has more than $83 billion in assets under management

and a portfolio that comprises of more than 40 software companies, making its take on the new Metaverse worth considering before jumping ship.

The Metaverse would basically give people the ability to interact, play, work, and build entire lives in a virtual reality; people would be able to live out entire lives or fantasy versions of themselves in the Metaverse, all without living the comfort of their homes. For some, this could be a sort of utopia, allowing them to refashion themselves in accordance with their most cherished ideal. For others, this could spell dystopian doom, a life without real human connection.

The term itself became popular once Facebook co-founder, Mark Zuckerberg, announced the change in Facebook’s name to “Meta” in honour of his cherished goal- to build a metaverse. “The metaverse is the next frontier just like social networking was when we got started,” said Zuckerberg.

Zuckerberg believes that although the company is currently renown as a social media company, it’s DNA is of a company that exists to connect people.

Through the Metaverse, the company hopes that it will host a billion people, hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers within the next decade.

The company has invested heavily in hardware to support its grand ambition, introducing a line of Portal video-calling devices, launching Ray-Ban stories glasses, and rolling out various versions of Oculus virtual- reality headsets.

While this might have come off as exciting news for Facebook, the company was accused of attempting to deflect from the accusations levelled against it by former employee Frances Haugen. Frances accused Facebook of failing to curb the spread of harmful content on its social media pages.

Frances became a thorn in Facebook’s side when she was revealed as the source that leaked a cache of internal Facebook documents that, most notably, showed the company was aware of the harm caused by its Instagram app to the mental health of teens. Speaking to parliament regarding the issue, Haugen was quoted saying, “Facebook has been unwilling to accept even a little sliver of profit being sacrificed for safety.”

It’s impossible to tell whether the ongoing legislative reforms imposed will have any significant effect on the mental health damage that Meta’s products have on young people across the globe. However, still, the company shows no signs of slowing down. Meta Platforms Inc. opened trading at $349.14, up 2.24% since yesterday.