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Facebook with unregulated free speech, became one of the cesspits of the Internet. Now that they have reigned in some of the garbage, the gullible are leaving hence the drop in revenue. You make more money off of peddling lies.
Little know fact, the term Metaverse came from a sci-fi book called “Snowcrash”. In the Snowcrash metaverse if you got infected with the virus it fried your brain and you died. I am not so sure Meta’s marketing department did enough research on their cool new name.