This year wasn’t a good year for tech, but it was a momentous one. The tech-heavy Nasdaq, as of Wednesday, declined about 31% for the year, with Meta losing 65% of its value. Tesla was also a big loser, but even Apple and Google are worth substantially less now than they were last New Year’s eve.
It was in June of 2022 when Mark Zuckerberg changed the name of Facebook to Meta, signaling an all-in strategy to convert the company to “metaverse” products, like virtual reality and, someday, augmented reality. It was a big bet, which, so far, hasn’t paid off. Keep reading for my thoughts as to how things