Facebook, Virtual reality, Metaverse 's metaverse plans look exciting but won't happen overnight: Jefferies' Brent Thill
How important is this its the next world, that theyre building beyond the social side you know mark spent a lot of time in the last earnings? Call explaining that many investors are are concerned, theres going to be a mega investment wave thats going to have to come to power. This uh, we think uh. You know, as he said, its going to be a five to ten year journey, theyre not going to do it on their own theyre, going to partner with other companies like nvidia and some of the gaming companies that are out there. So we think that its going to be a collective effort, but we think its like really exciting when you think about this ability to to to go into a different world and experience at an event or uh, even at work be able to come into to this. In a different way, in many ways when, when he talks about the metaverse, many people think about snap. I think that snap has probably done even a better job of building that out. So if you looked at a vendor, thats, probably even further ahead than facebook, its its snapped and you can follow, you know the teenagers around to look at them in the map and their ability to interact with their avatars understand. You know what shop is is showing what uh you know, what what type of uh uh bargain uh that they could walk in. So we think this is exciting its a long term, its not gon na happen overnight.
Uh and its gon na be a collection of different technology companies that will power the members yeah. I i all of that noted brent, and i realized this is going to take a couple of years yet, but this first step to basically strike into work are people and companies actually going to be looking to do that on facebook? I dont personally believe uh youll see our firm jump into that right away. Right, i think, were all so immersed in zoom and microsoft teams as a collaboration way. So the way that you know jeffreys, we have 4 000 employees, weve been living on zoom in in that world living in the live world with our with our clients. So i i think, ultimately um over time. It could be really interesting in the sense of if youre in fashion, and you want to present a fashion line. Could you go into the metaverse and create this fashion line? Could could we effectively go in and do a presentation inside this world for for stock recommendations and help clients out of teach ins you know certainly could um do? Do i see us doing that short term, probably not were already doing that in zoom uh companies like vimeo, who are doing live events uh companies like microsoft teams, you know were doing that today, uh in or in the real world, in a real environment, uh, and So you know this this im on zoom right now, right so uh.
If you think about it, i i think ultimately, companies are probably going to choose that route for the first route. Um, certainly wouldnt rule this out, but i think this again, this is going to take some time. I think theres, more consumer related apps that are exciting uh that im excited by rather than enterprise apps. At this point i mean other than snap. Can you be more specific, well snap today, i think, has a really interesting, uh approach on this, which is you know today, um, if you look at the map right, theres, written richness of where your friends and family are on the map and effectively, if you walk By uh, if youre, walking with your family and you walk by a pizza place and they show hey come on in, were gon na, give you a free caesar, salad and a pizza. You can actually see that world. You can walk into the restaurant. You can see the ad you can experience, maybe the restaurant, maybe you havent been in it, so you could experience a walk in before you actually walk into the physical restaurant, so theres some really interesting. You know thoughts and ways that i think they can go after this. So snap to to us again, theyve shown this with some of their augmented reality. Uh and some of their dynamic ads of you know different companies trying different clothes on and you know seeing how the pants fit versus the shirt and what.
What makes sense to put which together so theyre, already doing that. Right now for uh, some of their their retail partners, though so i think you know again, i think many. When people hear zuckerberg talk about the metaverse, i think instantly most of our investors have said. Snap seems like theyre doing this better and theyre ahead. Facebook seems to be playing catch up so again, the worlds going to be big theres. This is a this is a five to ten year vision uh this isnt going to drive numbers in the short term, but i think its good that theyre laying this out.