money Metaverse: How CEOs are thinking about the future of virtual and augmented reality
Yahoo Finance Live's Brian Sozzi and Julie Hyman recap what some of the tech industry's top CEOs have said on metaverse immersion prospects for their companies.
Video Transcript
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JULIE HYMAN: The metaverse. It's been on everyone's lips, and not just because of Facebook's name change. We talked to a number of different executives across the tech spectrum about the metaverse this week.
CRISTIANO AMON: The reality is there is an incredible opportunity as we think about the metaverse. And the metaverse is not one size fits all. It's about how you connect physical and digital spaces. For example, [INAUDIBLE] how we're thinking about working from anywhere [INAUDIBLE] home or the office, and what is the future of videoconferencing and [INAUDIBLE] actually have been fully immersed in a conference room using virtual reality. One thing is common to all of those different versions of how we're going to be into the metaverse, is you're going to need a device, that you're going to wear it, and it's going to allow you to have an experience with virtual reality and augmented reality. That's what we do.
STEWART BUTTERFIELD: The people working on it definitely think so, and are eager to partner with us. It might just be a failure of imagination on my part, but like, having my Slack messages and notifications show up in an alternate or virtual reality does not have a huge amount of appeal. But you know, I could be just not thinking about it correctly.
ADAM FOROUGHI: The part of the metaverse that we're most engaged with is the play to earn ecosystem. We look at gaming today as really fun for the user, but users are spending a lot of dollars, over $100 billion a year, engaging with games one directionally. It's an investment in, and nothing back to them. And we think if there is an economy that gets built where the user can invest in and make an earnings out by owning digital assets and trading them, it could become a huge business. And so we're really interested in where that goes and develops. And we think the ramifications for our business are very positive.
VIVEK ARYA: I think what's, you know, perhaps been less appreciated is the role of metaverse, or as Nvidia calls it, omniverse, in the enterprise. And this is where, you know, think about a BMW who wants to build their next factory. They will render that in 3D. They can render that in 3D and optimize all the workflows before they actually start building it out. Right? Think about [? Erickson, ?] who wants to deploy 5G base stations in a city. For them to go and go through that very expensive deployment, it is better to first simulate that in 3D and look at the effect of placing all these base stations.
BRIAN SOZZI: And I'll say this, the entire metaverse and the Yahoo Finance family wish you, Julie Hyman, a happy birthday. Happy birthday. Coming up, Julie's big birthday on Saturday. Is that Julie in the metaverse? I'm not so sure. But again, happy birthday to Julie. Any big plans?
JULIE HYMAN: Nothing big, no. Just going to hang out with the family.
BRIAN SOZZI: OK, all right, well, enjoy that big party, I'm sure. Have fun. Happy birthday to you, Julie Hyman.
