Meta continues to prioritize the metaverse as CEO Mark Zuckerberg steps back on day-to-day responsibilities in the company to focus on building and perfecting his metaverse vision.
During his recent announcement of the leadership changes which he believes will help shape the future of Meta, Zuckerberg shared in a Facebook Post, “I want to share an update on our company leadership as we begin our next chapter to help build the metaverse.
“This will be an exciting period of innovation, but at the same time the landscape around regulation for our industry is changing quickly. We need a senior leader at the level of myself (for our products) and Sheryl [Sandberg] (for our business) who can lead and represent us for all of our policy issues globally.”
Zuckerberg stated that he had asked former UK deputy prime minister and the company’s current vice-president for global affairs and communications, Nick Clegg to grace the new position.
Clegg will be tasked with leading Meta in all global affairs and “on all our policy matters, including how we interact with governments as they consider adopting new policies and regulations, as well as how we make the case publicly for our products and our work”. Zuckerberg went on to say that the promotion will “enable me to focus more of my energy on leading the company as we build new products for the future,” he said.
The Meta CEO concluded his message by stating that, “The work we do at Meta matters to a lot of people around the world. We’re at the center of a lot of debates about technology and society. I can’t think of anyone better placed to represent us and help shape the future of internet policy than Nick. I hope you’ll join me in congratulating him on this new.”
Meta’s AR and VR division reported a recent net loss of over $10 billion for 2021 after investing staggering amounts of money into the development of a metaverse. This led to the company’s plummeting shares which went down 23% and is struggling to recover ever since.
Zuckerberg stated at the time that his metaverse plans would require years of investment before its full potential can be achieved. “This fully realised vision is still a ways off. And although the direction is clear, our path ahead is not yet perfectly defined.”