Meta, company formerly known as Facebook, lost 24% of its value today, and is down 73% from last year's high

Virtual reality can be awesome, it just has entirely different use cases that Meta is pushing. I bet that if they focused on gaming and entertainment instead they would be a lot more succesful.

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Jesus not only saves; he also makes frequent multiple backups.

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It does take him 3 days to bring back your data though

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That’s the thing though. My buddy isn’t just into VR for games and whatnot, he’s heavily invested into the Horizons Metaverse specifically, being one of those few people who chooses to spend their time creating low-polygon content for the “sad, empty worlds” and hoping that others will show up to see it.

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Yikes. Does he not realize that VR Chat already exists?

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I’d be happy to hear some counterpoints, but for the most part, there’s a pretty small subset of people, utilizing a pretty small subset of computer gaming for now. That’s VR gaming in general, some of it is very cool, none of it has solved all (if any) of the issues it suffers from. I’m not aware of what they might be doing in the entertainment / simulation fields, but those all can solve a section of VR’s issues with expensive environments, movable floors, people sitting in chairs with hydraulics, any number of things like that. Things home VR can’t provide.

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Mom said many years ago that cramer’s always wrong, like the asshole stock broker she had. Doing the the opposite of what they say makes you money.

I wish google news’d let me add cnbc to the list of sources whose stories I do not want to see.

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Yeah, I’ve heard that financial advisors in general don’t offer advice that’s actually any better than say, what a random newbie day trader would invest in.

Too burnt out at the moment the moment though to find evidence of that claim.

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It’s pretty well known in the industry that the bigger the fee you pay to a financial advisor, the less special their advice actually tends to be compared to everyone else’s. Hedge fund managers are especially notorious in this regard – on average monkeys with a dartboard can make better or equivalent stock picks.

The vast majority of Americans lucky enough to invest can do well over time with no-fee index funds. Some affluent people who don’t want to manage their more diversified investments day-to-day might accept paying a small fee to let someone else do it (this is what allows wealth managers to make their living). After that, though, it’s diminishing returns.

The one exception where you stand a good chance of losing while paying zero-fees is when you’re taking advice from a cable TV pundit like Cramer. His advice is more often than not worth less than the fee you pay for it.

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But he seems so credible! He has a room full of screens and yells a lot and sometimes there are even buzzers and things!

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Just like the floor of the New York Stock Exchange! (which is now basically a shared TV set with yelling background extras in funny jackets since most trading is done on-line).

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I’m sure it wasn’t the only time, but didn’t he offer some (in)famously big apology like 10 or 12 years ago for some sure thing that went down the Bemis? What does he do after hyping a pick now – “and I really mean it, this time!” ?

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Sounds familiar. /rolls eyes That long-haired, loud suited idiot cramer had a show with - the one that merkin von bankrupt hired b/c on tv - never knows WTF he’s talking about, either.

Slight tangent:
Mom taught me how ridiculous it is for anyone to freak out over a bad September market-wise. September is always bad!

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He’s actually really into the “worlds” thing and calls himself a “world creator.” Here an image he just shared of him visiting a VR library. It reminds me of an old SNL sketch with a fake commercial advertising a VR book reading system that was funny because the concept of reading books in VR was so obviously dumb. But finally, many years later, Zuckerberg has brought that dream into reality.

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Here’s an image from the SNL sketch that aired way back in 1994:

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or…

Which I think is a more interesting effort than anything Meta is doing and it doesn’t offer headset support or chat (you have to use discord or some other second channel to communicate with those around the hole)

ETA: @Otherbrother When did Mark become the dancing six flags guy?

EATA: Doh! I just realized the picture @Otherbrother posted was of his friend visiting a VR library! Sadly the Horizon avatars are so good that I could not easily distinguish Mark Zuckerberg from anyone else and I thought it was another of Zuckerberg’s VR selfies (with glasses, to look library smart)

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Mark probably thought that it was Murray Rothbard on the advertisement. Or Mark thinks he is the next Murray Rothbard. Either one works.

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He’s not wrong! Nihilism is not anarchy!

Technically it is.

But Murray was an authoritarian capitalist who sells the idea of “you can do what you like as long as you are rich. Everyone else must do as they are told.”

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I wonder if, among all the negative effects of social media, it might at least manage some inadvertent role in making people understand that the rich are not actually worth listening to.

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