Metaverse will be as big as our current social media business: Mark Zuckerberg
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In an interview on CNBC's Mad Money, Meta Platforms (NASDAQ:META) CEO Mark Zuckerberg said the defining trait of the Metaverse is the ability to feel a sense of presence. He feels the Metaverse will be the next way people express themselves across social media.

The company intends to build the whole stack related to the Metaverse, he added.
"Metaverse will be as big as our current social media business," he noted. There is going to be a "massive economy" surrounding the Metaverse, he said, and the company can afford to make big research investments in it.
Eventually he expects a billion+ people in the Metaverse spending significant amounts of money. "AI is a massive wave that we're riding for all of our services. We're currently positioning the company to drive the wave of AI innovation," he noted.
More and more content on social media will come from AI recommendations going forward.
Zuckerberg doesn't expect to replace Sheryl Sandberg role directly. Her responsibilities will be shared by several people, he added.
Going forward, he plans to continue to invest in AI and the Metaverse.
Meta changed its ticker symbol from "FB" to "META" this month to better reflect its new focus on the metaverse.
Earlier on Wednesday, Meta Platforms slips again as BofA highlights delay in Creator commissions.
On Tuesday, the Justice Department said it had settled a lawsuit with Meta Platforms (META) over discriminatory advertising for housing.