Facebook certainly knows how to keep itself in the news cycle… Whether through controversy or innovation, the tech giant stays in the headlines. 

Most recently, Facebook is back in the news cycle for innovation and it has to do with the metaverse.

Facebook is currently planning to hire a massive 10,000 new employees within the EU to start ‘building’ the metaverse.

"As we begin the journey of bringing the metaverse to life, the need for highly specialized engineers is one of Facebook's most pressing priorities," Said Facebook executives Nick Clegg and Javier Olivan in a released statement.

You’ve most likely heard me talk about the metaverse on here before, the metaverse is being called the future of the internet. A fully-realized digital space where users can interact with virtual- and augmented-reality technology. 

I firmly believe it’s the next big tech megatrend that will completely alter life as we know it. 

Almost every tech giant in business today is cruising full speed ahead in preparation for the metaverse. 

And it makes sense… The metaverse is projected to become a multi-trillion dollar industry.

Obviously, there will be a ton of moving parts and plenty of competition… 

Apple, Google, Microsoft, and more are already pouring billions of dollars into its development.

Immersive gaming platforms like Roblox (RBLX) and Fortnite developer Epic Games are just two large competitors that are making waves in the metaverse space. 

Metaverse-related projects have even been in development since as early as 2003. 

And still, the metaverse is so large that it’s impossible to be ‘owned’ by any one company. 

But, by bringing on around 10,000 new employees, Facebook is making a push to be at the forefront of the metaverse’s development. 

"Like the internet, its key feature will be its openness and interoperability. Bringing this to life will take collaboration and cooperation across companies, developers, creators, and policymakers," said Clegg and Olivan. 

And you can be certain that there will be a multitude of investment opportunities around this tech megatrend. 

Of course, it can be confusing trying to sift through all the noise. But don’t worry, here at Technology Profits Daily I’ll be putting out my best research to keep you informed. 

To a bright future,

Ray Blanco
Chief Technology Expert, Technology Profits Daily
AskRay@StPaulResearch.com