The baloney of ‘metaverse’

The idea of a “metaverse” reached critical mass last fall when Facebook announced its new company name, Meta, and its intention to build “a 3D place where people can work, play, and connect with others in immersive, online experiences.” While Facebook’s name change has made it the public face of the future of the metaverse, other tech companies are also developing virtual and augmented reality technologies to make their own metaverse plays. And companies of all kinds are looking at what a robust metaverse means for them and their industry. Overall, “the metaverse is almost entirely hype and baloney right now,” said Philip Rosedale, at a recent Future Compute conference. Mr Rosedale’s company Linden Lab created the pioneering virtual civilisation Second Life. “If you’re worried about your company needing to jump in right this very minute to make your metaverse play, you can stop worrying.” “It’s not a technology, it’s not even an umbrella of technologies. It’s not a singular place, it’s not a singular protocol,” according to another expert.

(Adapted from “What Second Life and Roblox can teach us about the metaverse,” by Sara Brown, published on July 19, 2022, by MIT Management Sloan School)

Fading superhero mania

The share of adults who enjoy superhero movies ticked down slightly compared to a year ago, according to a Morning Consult survey, a worrisome trend for Disney’s Marvel franchise as its movies experience a rare relative slump at the box office and among critics — and Disney expands its investment in the properties. The poll found 36pc of all respondents enjoy superhero movies, down from 41pc last November. Perhaps most worrisome is the share of self-identified Marvel fans who enjoy the movies also fell, dropping from 87pc to 82pc. The Marvel Cinematic Universe has released 29 movies since its inception in 2008, including four in 2021 and three released or scheduled in 2022. Marvel content has become increasingly crucial to Disney, helping drive subscriptions to its Disney+ streaming service. Marvel Studios President Kevin Feige unveiled 10 new Marvel titles movies at San Diego Comic-Con, including two Avengers films slated for 2025.

(Adapted from “Interest In Superhero Movies Drops, Poll Finds — Worrisome Trend For Disney Amid Marvel Slump,” by Derek Saul, published on Aug 4, 2022, by Forbes)

Stop undervaluing exceptional women

Despite progress toward gender equality at work, it still takes women longer to get promoted than men — and few make it to the top of the corporate ladder. Recent research suggests that gender-biased assumptions about retention are, in large part, to blame. The findings suggest that exceptional women are often taken for granted by companies who assume they’re not a flight risk — an assumption that likely contributes to the “glass ceiling” and the gender wage gap. When companies assume women will place loyalty to the firm over advancing in their careers through outside opportunities, they’re less likely to engage in preemptive retention efforts, such as bonuses, raises, and promotions. To stop taking talented women for granted and to avoid losing them to other firms, companies need to do more to recognise and address these biases.

(Adapted from “Stop Undervaluing Exceptional Women,” by Elizabeth L. Campbell and Oliver Hahl, published on July 22, 2022, by the Harvard Business Review)

Ditching green for sustainability

Starting August 1, Coca-Cola said it would ditch the bottle colour, which it has used to market its Sprite bottles for more than six decades, and would instead use clear bottles that are supposed to be more sustainable. The company said that it is easier to reuse clear plastic than green plastic for new bottles. Sprite’s green plastic is recyclable, but green plastic is more often converted into single-use items like carpets and clothing. Coke officials have said that Sprite’s green colour and packaging were meant to communicate that the drink tasted refreshing. The lemon-lime drink and its packaging have been green ever since Sprite launched in the U.S. in 1961. The drink has been one of Coke’s bestselling products, according to the company. Coke said that the other green bottles it sells in North America—including those for Seagram’s ginger ale, Mello Yello and Fresca—would also be sold in clear plastic bottles in the coming months.

(Adapted from “Sprite Goes Green by Ditching Its Green Bottle,” by Alyssa Lukpat, published on July 28, 2022, by The Wall Street Journal)

Published in Dawn, The Business and Finance Weekly, August 8th, 2022