As Meta Platforms Inc. META basks in the glory of its latest acclaim for its AI advancements, CEO Mark Zuckerberg has spoken about the importance of maintaining a long-term focus.
What Happened: On Thursday, a user on Threads pointed out the positive reception of Meta’s Orion showcase and its open-source AI developments.
The user suggested that the company’s market performance, rather than the actual product, influenced this sentiment. “Sentiment always follows price, not the other way around,” they wrote on the platform.
The user argued that Meta is being praised more because the tech giant’s market cap and financial performance have improved since November 2022. Meta currently has a market cap of $1.43 trillion, making it the seventh most valuable company in the world.
Zuckerberg responded to this observation, stating, “You’re never as good as they say when you’re up, and you’re never as bad as they say when you’re down.”
He went on to add, “You just have to stay focused and keep shipping over the long term.”
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Why It Matters: Back in 2022, Meta faced intense scrutiny over its heavy investments in the metaverse and AR technologies amidst declining user engagement on its core social media platforms.
Critics also questioned the viability of these initiatives and the company’s strategic direction. However, with the unveiling of Orion and advancements in AI capabilities, Meta has shifted public perception.
Earlier this week at Meta Connect, the company unveiled new AI features, the Quest 3S, Llama 3.2, and holographic Orion glasses. During his keynote address, Zuckerberg expressed optimism about the future of computing and human connection.
Following the conference, multiple analysts re-rated Meta, highlighting the company’s AI and VR advances. They noted that Meta’s growth could push it towards an Apple-like valuation.
The company’s Orion glasses, in particular, were seen as a potential game-changer, with some analysts suggesting that they could represent the next primary consumer computing platform.
Meta CEO has also emerged as a prominent advocate for open-source AI, positioning it as a crucial element for the future of technology development.
Earlier this year, while having a conversation with Nvidia Corporation CEO Jensen Huang, Zuckerberg ended up using an expletive when discussing the open vs closed source AI topic. “We were doing okay for like 20 minutes, but get me talking about closed platforms, and I get angry.”
Image Credits – Shutterstock
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