Meta may be going all-in on the metaverse, but former Nintendo President and COO Reggie Fils-Aime isn’t a fan of its approach.
Meta has been aggressively trying to establish itself as the market leader in the race to the metaverse, the term for the convergence of in-person, virtual, and augmented reality. The company even changed its name from Facebook to Meta to reflect its focus. Nonetheless, Fils-Aime isn’t sure the company has what it takes to be the market leader.
“Facebook itself is not an innovative company,” Fils-Aime told Bloomberg’s Emily Chang. “They have either acquired interesting things like Oculus and Instagram, or they’ve been a fast follower of people’s ideas. I don’t think their current definition will be successful.”
Instead, Fils-Aime believes it will be smaller companies, ones that are doing “really compelling” things, that will be the ones dictating the industry. Even some larger companies have showed more vision than Meta, with Fils-Aime citing Microsoft and its acquisition of Activision Blizzard as “a fantastic purchase.”