Jaeden Schafer

And

And Apple's headset also was a huge flop and didn't see very much demand or usage.

Or, I mean, honestly, someday that Apple VR headset is going to be like a collector's item, in my opinion.

But I don't think that this is completely ruling out the entire industry.

And I do think that there's some interesting plays here.

I think Meta's long-term interest was never just hardware.

They were a lot more focused on the economics of running their own platform, whether that was apps or games.

And they're kind of looking at this as a way to escape from Apple and Google's grip on mobile app distribution.

That was, I think, why they're putting so much money and really trying for this whole thing.

During Facebook Connect back in 2021, Zuckerberg was openly criticizing the Apple-Google duopoly.

He said that building under the rules had been really, quote unquote, humbling and that higher fees were stifling innovation.

He said that he wanted the metaverse to reach a billion users within a decade and generate hundreds of billions of dollars in digital commerce.

There's a bunch of consulting firms.

I think McKinsey was one of them.

There's some banks, Citi, all of those were saying like, yeah, we expect to see the same kind of thing.

They were kind of forecasting these multi trillion dollar metaverse economies by 2030.

It seems like they were maybe drinking the Kool-Aid a little bit too much because that we never even got close to that.

I think Meta's kind of they definitely had like a big dream, but the adoption was lagging really bad.

So even though the company didn't disclose any kind of detailed metrics from its VR app store, mostly, I think, because this would make them look bad.

The estimates give us kind of a rough idea.