Zuckerberg acknowledged Facebook’s struggle to maintain popularity with this demographic speaking on that conference call. As a result, Facebook must figure out how to build a new service itself that will help lure back young users. But its popularity among young people has eroded over the last decade, and increasing anti-trust attention around Facebook means it cannot buy its way out of this problem by picking up some promising new rival (as it did with Instagram and considered doing with TikTok and Snapchat). To Zuckerberg, the metaverse, a bleeding-edge Silicon Valley concept positing that future social networks will rely on augmented- and virtualy-reality tech, represents a path away from his company’s existing problems: Facebook may be bigger than ever with over 3 billion users worldwide.
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