“Big Short” sage Michael Burry poked fun at Facebook parent Meta’s troubled shift toward the metaverse by comparing it to Coca-Cola’s most infamous blunder. Meanwhile, the Facebook parent’s stock has floundered this year amid signs the base of its users on its flagship social media platforms is dwindling. “Seems Meta has a New Coke problem,” Burry tweeted on Saturday. Meta is shifting away from its social media platforms. Meanwhile, Meta recently enacted a hiring freeze and has reportedly begun conducting “quiet layoffs” as it looks to trim expenses.

Source: The Star October 17, 2022 19:42 UTC