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Why did the metaverse die? Because Silicon Valley doesn’t understand the concept of fun
(www.fastcompany.com)
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this post was submitted on 15 Oct 2023
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Technology
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The metaverse died because it didn't mean anything, there was no clear thing you could point to and say "this is the metaverse". It was a collection of buzzwords designed to sell a dream to investors and nothing more.
As a developer who loves to tinker with web stuff, I feel most of the tech scene and Silicon Valley are full of people who went into development just for the money. I almost see it every day.
Yes, it wasn't always the case. I was in the Silicon Valley in the 2000's and it was full of techies who really believed in the open web, and even Google was a proponent of open standards.
A few years later it seems like the tech matured enough that being technically savvy was no longer necessary to be a successful founder. Slowly it stopped being about technical innovations and became about raising money, product marketing, A/B testing, etc.
Selling dreams to VCs has long been the game, but VCs started getting dumber and greedier as all the low hanging opportunities were used up. So tech startups had to make sillier and sillier claims and business plans to keep raking in VC dough.
Subscriptions have been big VC keywords for the last 7-8 years, as data harvesting started to be monopolized by a few big owners. Ads are trying to make a comeback as subscription fatigue sets in, which is why blockers are being targeted lately.
I’m not looking forward to the next method of extracting wealth from the masses in trade for VC investment. Probably another form of slavery or subjugation they haven’t found a way to hide yet.