Meta, the company once known as Facebook, has already started slimming down its virtual operations. Disney is cutting its division. Microsoft is shutting its unit.
The metaverse, the imaginary universe we were all meant to migrate to just a couple of years ago, is turning into a great corporate collapse, at least in the immediate term, with billions of dollars of investment at risk, and reputations taking a hammering.
Over the last three years, the internet giants have built a vast new world, only to discover that many people don’t want to go there.
