WEBVTT - Cliff Notes: THE FUTURE OF FACEBOOK & THE METAVERSE

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<v Speaker 2>So let's get in to this conversation. As far as

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<v Speaker 2>uh Facebook. Yeah, so Facebook. It's a couple of different

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<v Speaker 2>question things that's interesting about Facebook on Mark Zuckerberger. The

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<v Speaker 2>first The first thing is I put a post on

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<v Speaker 2>i G last week about Facebook changing its name. We're

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<v Speaker 2>going to get into that, because there's a lot into that.

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<v Speaker 2>But then also news came out today that it was

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<v Speaker 2>an alarming trend that they found out. I don't know

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<v Speaker 2>that why they didn't notice before. But teenagers and young

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<v Speaker 2>people are not using Facebook. It's declining out at a

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<v Speaker 2>rapid pace. Like I said, I'm not that's easy to

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<v Speaker 2>figure out. So but Mark Zuckerberg came back and he

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<v Speaker 2>painted a positive pictures for the company. So Facebook stock

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<v Speaker 2>is something that is a cornerstone of the of the market.

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<v Speaker 2>It's in a variety of ETFs. Is you know, one

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<v Speaker 2>of the one of the big players is up there?

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<v Speaker 2>So A how do we feel about the company? And

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<v Speaker 2>b is it a good time to invest in Facebook

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<v Speaker 2>stock long term?

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<v Speaker 3>Or stay away from Facebook stock.

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<v Speaker 4>I've been telling everyone if you are in Facebook, hold it,

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<v Speaker 4>but if you are looking to.

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<v Speaker 3>Add a new position, I wouldn't do it right now.

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<v Speaker 4>Like it is a coordinated attack on Facebook right now now.

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<v Speaker 3>He isn't like my Wall Street.

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<v Speaker 4>There's a bunch of venture firms that don't like him,

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<v Speaker 4>and they are starting to put their pieces together. But

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<v Speaker 4>I told you, guys, what was that four weeks ago?

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<v Speaker 4>TikTok is going to take over over ig. Everyone's like,

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<v Speaker 4>you're crazy, you can't bet against Zuckerberg. I'm like, I know.

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<v Speaker 4>I was trying to invest in two thousand and four.

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<v Speaker 4>Shout out to steveg who put me on a Facebook. Like,

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<v Speaker 4>the amount of money that would have been made in

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<v Speaker 4>a deal would have been insane. So like, you have

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<v Speaker 4>to know when the trend is going to start and

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<v Speaker 4>in people that are younger than thirty years old do

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<v Speaker 4>not like Facebook, and even those of us that are

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<v Speaker 4>over thirty, it's not as efficient as it could be.

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<v Speaker 4>So TikTok, if you're on it, it's a more seamless platform,

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<v Speaker 4>better experience. YouTube is a better social network then if

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<v Speaker 4>you Yes, they have what'sapp, But the innovations have not

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<v Speaker 4>been as strong as they should be over.

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<v Speaker 3>The last five years of Facebook. So I love the company.

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<v Speaker 4>The stock as a sea right now, I wouldn't add

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<v Speaker 4>to my but if you are have already been been

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<v Speaker 4>in it sub two hundred, you're fine.

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<v Speaker 5>Check out the statistic right right, teenage users a Facebook,

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<v Speaker 5>the app right and the US have declined by thirteen

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<v Speaker 5>percent since twenty nineteen. Right that's two years ago, and

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<v Speaker 5>are projected to drop by forty five percent of the

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<v Speaker 5>next two years, driving overall declining daily users in the

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<v Speaker 5>company's most lucrative market. It's Facebook has become something that

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<v Speaker 5>people look like, that's what my grandparents use. Yes, And

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<v Speaker 5>nobody wants to go to the party with their grandparents,

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<v Speaker 5>you know.

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<v Speaker 6>And so like.

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<v Speaker 3>Facebook is like we're a foobo out right.

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<v Speaker 5>Now, shout out too, shout ya damon for us by

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<v Speaker 5>us right, but you not wearing the I mean, nobody

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<v Speaker 5>who wants to party with their grandma?

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<v Speaker 2>Will I will say this as a content creator, and

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<v Speaker 2>I was I was uneducated about this. Facebook is not

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<v Speaker 2>dead and you have a way better chance you get

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<v Speaker 2>you can you can go viral. You can go viral

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<v Speaker 2>easy on Facebook than you can on on Instagram.

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<v Speaker 6>Like we go.

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<v Speaker 3>It's easy to go viral on TikTok though, no.

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<v Speaker 6>That's a fact.

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<v Speaker 2>But Facebook, we got videos, but like nine hundred thousand,

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<v Speaker 2>but a million five Our number one video on Facebook

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<v Speaker 2>has five million views. We don't have any We don't

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<v Speaker 2>have any video on Instagram, even though we have a

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<v Speaker 2>way bigger presence on Instagram and we're way stronger on Instagram.

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<v Speaker 2>So I would I would just encourage content creators not

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<v Speaker 2>to give up on Facebook. Yeah, yeah, it's still a way.

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<v Speaker 2>It's still still it's still the biggest platform.

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<v Speaker 6>That's by far. I mean they have two billion users.

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<v Speaker 5>But here's the thing, right, that core demographic that we're

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<v Speaker 5>talking about that is watching those five million views is

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<v Speaker 5>twenty five to forty five. Soon their age out of

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<v Speaker 5>that group, who's the next group coming in? If that

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<v Speaker 5>group is inconsistent with staying with you, then you're gonna

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<v Speaker 5>lose an audience.

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<v Speaker 3>Right.

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<v Speaker 5>If we're talking about fifty percent of clines and teenagers,

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<v Speaker 5>those teenagers will become adults. And so if you don't

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<v Speaker 5>have those people coming to your site, then how do

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<v Speaker 5>you app you sell the ad dollars?

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<v Speaker 3>Right?

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<v Speaker 6>Because most of their money's man is not as clain

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<v Speaker 6>and good as you. You see what I'm saying.

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<v Speaker 5>So like when you have when you have like TikTok,

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<v Speaker 5>which is obviously taken over for the young adults, it

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<v Speaker 5>becomes tougher for you to sell ad dollars when you

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<v Speaker 5>know the audience's declined.

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<v Speaker 6>How do you now pitch it to a company and then.

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<v Speaker 3>An interesting space because they're in the middle.

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<v Speaker 4>Like, so the Trump's thing that he wants to create

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<v Speaker 4>one polar opposite. TikTok is at another and Facebook is

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<v Speaker 4>in the middle. So you can't really have an edge

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<v Speaker 4>if you're not really catering to anyone. The thing like

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<v Speaker 4>when me and Todd first got on there, what was

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<v Speaker 4>that IU was like for college people only it was

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<v Speaker 4>almost like an honor to be on there. Yeah, now

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<v Speaker 4>anyone can be on content is and as good.

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<v Speaker 3>The Russia thing, that was a smoke of mirrors campaign

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<v Speaker 3>more than anything.

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<v Speaker 4>But when you factor that end the whistleblower, like, they're

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<v Speaker 4>putting so many things in play right now to take

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<v Speaker 4>them down. It's a coordinated attacking is working, but they

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<v Speaker 4>have to clean up the platform and they haven't taken

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<v Speaker 4>a strong stance.

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<v Speaker 5>On who this is for over the last four or

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<v Speaker 5>five And even I know some people are like, well,

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<v Speaker 5>it doesn't Facebook on Instagram.

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<v Speaker 6>Yeah, they on Instagram.

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<v Speaker 5>But even in their reports, like even to that he's

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<v Speaker 5>there seeing declines in the usage of Instagram, which is

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<v Speaker 5>why they try to create Instagram Team.

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<v Speaker 6>But then they had the.

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<v Speaker 4>Easy questions go ahead, raise or put yes and chat

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<v Speaker 4>if you've enjoyed using Instagram over the last year.

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<v Speaker 3>Now, if you've been on TikTok.

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<v Speaker 4>Or YouTube, which is easier to use YouTube versus IG

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<v Speaker 4>or TikTok versus ig. We're seeing a change in of

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<v Speaker 4>the guard and they need to acquire something else, not

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<v Speaker 4>a metaverse.

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<v Speaker 7>An illegal alien from Guatemala charged with raping a child

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<v Speaker 7>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 7>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 7>filming and selling child pornography in Michigan. These are just

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<v Speaker 7>some of the heinous migrant criminals caught because of President

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<v Speaker 7>Donald J. Trump's leadership. I'm Christy Noman, the United States

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<v Speaker 7>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 7>crossings are at the lowest levels ever recorded, and over

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<v Speaker 7>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 7>are here illegally, your next you will be fined nearly

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<v Speaker 7>one thousand dollars a day, imprisoned, and deport You will

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<v Speaker 7>never return. But if you register using our CBP home

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<v Speaker 7>app and leave now, you could be allowed to return legally.

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<v Speaker 7>Do what's right. Leave now. Under President Trump, America's laws

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<v Speaker 7>border and families will be protected.

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<v Speaker 6>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>Thing could be very fascinating.

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<v Speaker 6>Yeah, so speak speak about that.

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<v Speaker 3>Let's get into this conversation.

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<v Speaker 2>So one of the reasons why Facebook is considering changing

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<v Speaker 2>his name is because kind of like Google with alphabet,

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<v Speaker 2>they want to have all of the things. It's already

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<v Speaker 2>under one umbrella, but you know it's so Facebook owns Facebook, Instagram,

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<v Speaker 2>and WhatsApp. So a name change would you know, have

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<v Speaker 2>all of that, you know, vertical entities under one umbrella.

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<v Speaker 2>But then also moving towards the metaverse. Shout out to

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<v Speaker 2>nineteen key, I know he spoke about that at Vesfest.

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<v Speaker 2>The metaverse something that we spoke about a few different times.

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<v Speaker 2>When you talk about the world of augment every reality,

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<v Speaker 2>when you talk about, you know, the oculus that they

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<v Speaker 2>have with the glasses, artificial intelligence, this is something that

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<v Speaker 2>you know, Mark Zuckerberg is fully, fully focused on. This

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<v Speaker 2>is my own personal opinion. I think that all right,

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<v Speaker 2>we see Elon Musk is kind of like carving out

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<v Speaker 2>his niche in space and electric cars, like everybody's kind

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<v Speaker 2>of carving out their niche. So I think he sees

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<v Speaker 2>this as an opportunity to brand Facebook as the face

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<v Speaker 2>of the metaverse, augmented reality type of vibe. What do

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<v Speaker 2>you feel about that?

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<v Speaker 5>I'm just so everything you just named it makes it

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<v Speaker 5>even clearer. Right, who's already in that space? Who's a

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<v Speaker 5>playing in that area?

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<v Speaker 6>Teams? Right, young adults? How do I appeel to them?

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<v Speaker 5>I got to go to what they're doing, right, So

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<v Speaker 5>they're already playing in the roadblocks and they already they've

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<v Speaker 5>been accustomed to this. Well, how do I attract a

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<v Speaker 5>younger audience to now use them as my customers going forward?

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<v Speaker 6>I have to be in it like he sees it.

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<v Speaker 5>You can see it clearly right, my demographic of core

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<v Speaker 5>audience is getting older. They're thinking that with the grandparents

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<v Speaker 5>of this thing, how do we get younger? Maybe rebranded,

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<v Speaker 5>maybe target the people who we know are in the space,

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<v Speaker 5>obviously young teams and adults.

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<v Speaker 3>It is a it can be.

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<v Speaker 4>This reminds me of when Steve Jobs came back and

0:11:25.040 --> 0:11:28.640
<v Speaker 4>they went on the run with iPods. Because now if

0:11:28.640 --> 0:11:30.880
<v Speaker 4>you rebrand the company, because you already have the hardware

0:11:30.880 --> 0:11:33.080
<v Speaker 4>in place, you have the uses. And for all my

0:11:33.120 --> 0:11:34.959
<v Speaker 4>business owners, this is why it's so important. You need

0:11:35.000 --> 0:11:38.800
<v Speaker 4>to have a strong customer base. The two billion people

0:11:38.800 --> 0:11:41.559
<v Speaker 4>on the platform probably three hundred billion, I means three

0:11:41.640 --> 0:11:44.360
<v Speaker 4>hundred million could be in a metaverse and once they're there,

0:11:44.480 --> 0:11:47.400
<v Speaker 4>like I always thought they should have been acquired Fortnite,

0:11:48.160 --> 0:11:50.800
<v Speaker 4>Like you need a game and entity to drag them in.

0:11:50.880 --> 0:11:53.360
<v Speaker 4>Because every brand needs the youth. This is why hip

0:11:53.360 --> 0:11:55.560
<v Speaker 4>hop is so important. Like once you use lose the

0:11:55.600 --> 0:11:58.560
<v Speaker 4>youth culture, you don't have that much of an edge.

0:11:58.559 --> 0:12:00.800
<v Speaker 3>So that if they can mass to getting.

0:12:00.520 --> 0:12:07.120
<v Speaker 4>The metaverse down the way Pe dropped his school, Facebook

0:12:07.120 --> 0:12:10.920
<v Speaker 4>will go on a historical Apple rebrand, like in every brand,

0:12:10.960 --> 0:12:14.080
<v Speaker 4>you have to This is why From a business perspective,

0:12:14.080 --> 0:12:18.000
<v Speaker 4>I'll tell you I focus on mastering price because without that,

0:12:18.200 --> 0:12:21.719
<v Speaker 4>I don't have the sharpest sword. So Facebook went through

0:12:21.760 --> 0:12:23.920
<v Speaker 4>five or six years when they didn't have a competitive advantage.

0:12:23.920 --> 0:12:26.640
<v Speaker 4>If they get this metaverse down with that user base,

0:12:27.160 --> 0:12:28.840
<v Speaker 4>with already having at hardware, and.

0:12:28.840 --> 0:12:30.680
<v Speaker 3>If you use Oculus, Oculus is beautiful.

0:12:31.800 --> 0:12:34.280
<v Speaker 4>People average game and time and they'll probably be anywhere

0:12:34.320 --> 0:12:35.440
<v Speaker 4>from two to three hours today.

0:12:36.520 --> 0:12:38.080
<v Speaker 2>They'll make a help of you don't want to live

0:12:38.080 --> 0:12:41.920
<v Speaker 2>in although although keys just say the HoloLens of Microsoft

0:12:42.080 --> 0:12:45.600
<v Speaker 2>makes Oculus look crazy people to the movie theater.

0:12:45.720 --> 0:12:47.440
<v Speaker 3>Yeah, people just don't know about it that scale yet.

0:12:48.000 --> 0:12:52.080
<v Speaker 4>Yeah, I mean obviously and Microsoft never done social well, right, but.

0:12:52.120 --> 0:12:53.880
<v Speaker 6>They they're like kind of the first in that space.

0:12:53.960 --> 0:12:56.520
<v Speaker 5>Right, is kind of a big device to put on

0:12:56.559 --> 0:12:59.880
<v Speaker 5>your face, and so like, yeah, that was the first person.

0:13:00.000 --> 0:13:01.720
<v Speaker 6>How can we make it better, Let's make it small less.

0:13:01.760 --> 0:13:03.760
<v Speaker 2>But well they team that were ray Band, that's true,

0:13:04.040 --> 0:13:06.000
<v Speaker 2>and now they're gonna it was like ninety nine dollars.

0:13:07.040 --> 0:13:09.200
<v Speaker 2>So yeah, Facebook, if you didn't know, Facebook team that

0:13:09.200 --> 0:13:11.959
<v Speaker 2>were ray Band, and they're gonna release kind of sunglasses

0:13:12.040 --> 0:13:12.600
<v Speaker 2>or the Oculus.

0:13:12.840 --> 0:13:14.280
<v Speaker 3>Oculus is like a huge thing.

0:13:14.600 --> 0:13:17.079
<v Speaker 2>But these these ray band glasses posted on Instagram a

0:13:17.120 --> 0:13:19.320
<v Speaker 2>few weeks ago the ra class they look like regular

0:13:19.400 --> 0:13:23.240
<v Speaker 2>ray bands. So this is something that you know, it

0:13:23.280 --> 0:13:26.120
<v Speaker 2>could it could give Facebook, you know, a second win,

0:13:26.240 --> 0:13:28.160
<v Speaker 2>because you're right, they are in trouble with How I

0:13:28.320 --> 0:13:30.880
<v Speaker 2>how I know that they're in trouble is my son.

0:13:31.000 --> 0:13:34.280
<v Speaker 2>We was driving this weekend and we was in the

0:13:34.280 --> 0:13:36.240
<v Speaker 2>city and he was asking me to go to this

0:13:36.240 --> 0:13:38.520
<v Speaker 2>this restaurant and I'm like, why do you want to

0:13:38.520 --> 0:13:40.760
<v Speaker 2>go to that restaurant? And I realized the reason why

0:13:40.800 --> 0:13:42.760
<v Speaker 2>he asked to go to it is because he saw

0:13:42.760 --> 0:13:45.440
<v Speaker 2>it on TikTok. And if you ever, if you're on TikTok,

0:13:45.720 --> 0:13:49.040
<v Speaker 2>all of these videos of like rooftop New York City,

0:13:49.400 --> 0:13:51.040
<v Speaker 2>like you know what I'm saying with that voiceover thing,

0:13:51.120 --> 0:13:53.559
<v Speaker 2>but this is how what I realize is that I

0:13:53.600 --> 0:13:56.440
<v Speaker 2>don't know, but that's your voices. What I realized is

0:13:56.440 --> 0:13:59.120
<v Speaker 2>that this is how people are actually this is like

0:13:59.160 --> 0:14:01.160
<v Speaker 2>the new Yellow Pages, like this is how people are

0:14:01.200 --> 0:14:06.160
<v Speaker 2>finding businesses, restaurants, all of that. So TikTok that is

0:14:06.200 --> 0:14:08.880
<v Speaker 2>actually brilliant because that's like the new Yelp, like people

0:14:08.960 --> 0:14:11.560
<v Speaker 2>is actually going on there and whatever is trending that

0:14:11.679 --> 0:14:13.920
<v Speaker 2>becomes a destination of like, yo, I gotta go there,

0:14:13.960 --> 0:14:16.840
<v Speaker 2>I gotta go to Hoboken, New Jersey to look at

0:14:16.840 --> 0:14:19.320
<v Speaker 2>this rooftop that's overlooking the city. Because even I look

0:14:19.360 --> 0:14:21.160
<v Speaker 2>at the videos like damn, I'm I'm gonna go to

0:14:21.200 --> 0:14:21.720
<v Speaker 2>this restaurant.

0:14:22.040 --> 0:14:24.880
<v Speaker 6>Is no, it's very key.

0:14:26.200 --> 0:14:32.840
<v Speaker 2>My graduates from my school being forced back drop bag drop, Mike, drop.

0:14:33.080 --> 0:14:34.480
<v Speaker 3>Back drop drop.

0:14:46.280 --> 0:14:50.160
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