I think the "metaverse" might actually be on the mark. It was just that peak metaverse was Farmville. Nobody wants 4D Farmville though. They're not looking for

I think the "metaverse" might actually be on the mark. It was just that peak metaverse was Farmville. Nobody wants 4D Farmville though. They're not looking for immersion. They're looking for a minimum effort way to socialize. FB likely peaked around 2012 (coincidentally around IPO). After that, it was cashing in on the goodwill it had built. People say it was in decline since the Meta announcement, but I think it was long gone by then. Stock price is a lagging indicator. Meta was a catalyst.