A meta-cosmic crash?As Meta’s historic plunge wiped $230 billion off its market value, Zuckerberg responded with tears

Since Facebook’s parent company changed its name to Meta, the metasemes have become a new focus, and zuckerberg seems to be pushing the metasemes into the future of the Internet.By Thursday’s close, however, shares of Meta, Facebook’s parent company, had suffered the biggest one-day slide in the company’s history, plunging 26% and wiping out more than $230bn in market value.The day before, at the virtual conference, Zuckerberg announced that Meta had lost $10 billion on its investment in the Metasverse.And he readily acknowledges the thorny issue of how to make the transition from social networks to so-called metasomes.In a company-wide virtual meeting, Zuckerberg explained that the historic drop was due to Meta’s weak revenue outlook for the current quarter, according to a person familiar with the matter.He said it was important to focus on Facebook’s short video product, which was growing.Zuckerberg repeated what he told investors a day earlier.He told employees that the company faced “unprecedented competition” with the rise of short-video platform TikTok.Zuckerberg was also spotted during the day with what appeared to be tears in his eyes.He quipped that if he started crying, it wasn’t because of the news of Meta’s plummeting stock price.Zuckerberg explained that his red, teary eye was caused by a cut to his cornea.As Meta’s shares tumbled, he tried to soothe the mood.

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