Loup TV 120: Facebook’s VR Bet; GameStop Goes NFT; Chrysler’s EV Hail Mary
Gene and Doug discuss news for January 6th:
- Reports of Facebook nixing development of an MR OS in favor of a VR OS are to be expected. To call the metaverse early is an understatement, and big tech will be making many course corrections around product development in the years to come. Facebook is still going to invest $10B a year in the metaverse.
- GameStop announces an NFT marketplace and the stock is up 30% on the news. Meme investors love the concept, however GameStop is up against OpenSea and Coinbase, and the meme stock crowd is not the NFT crowd. Long-term its likely a dead end.
- Chrysler announces that it will go all-electric in 2028, with the first EV prototype launching in 2025. Too little, too late in our book. Speaks to the challenges that traditional auto faces with EV transitions. Can anticipated models by Ford and Volkswagen get ahead of delays and catch up with Tesla?