Former Nintendo Chief Operating Officer (COO) Reggie Fils-Aime said Meta Platfrom Inc is not an ‘innovative company’ and its metaverse plans will not be successfully implemented.
In an interview between Reggie Fils-Aime and Emily Chang of Bloomberg, he expressed his frustration with Meta being considered a ‘sniper’ of the idea of becoming the ‘supposedly earliest company’ to lead the metaverse world.
It is common knowledge that in October 2021, Mark Zuckerberg changed the name of Facebook to Meta as one of his steps to become an early user who introduced the concept of metaverse.
According to Fils-Aime, Facebook is not an innovative company but only wants to get ‘interesting benefits’ like what is done by buying Instagram and Oculus, and if they fail to get those interesting things, they want to be the ‘first company’ to ride other people’s ideas.
He added that Meta is seen to only focus on advertising because digital advertising contributes 98% to the company's revenue, so its metaverse plan is sure to fail because 'to be innovative, consumers must come first'.
In the meantime, Fil-Aime believes that more innovative small companies like Epic Games will definitely succeed in driving the metaverse to become a reality one day.
Meta has not yet commented on this matter.
Meanwhile, Meta shares are down 45% year-to-date following a sell-off last week after the 4th quarter earnings report recorded a decline in active users in a day for the first time.
