Why the Metaverse Buzz Is Cooling

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 29 March 2023

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for March 29. There was a lot of enthusiasm around the metaverse when Facebook rebranded itself to become Meta in 2021. But lately, companies are souring on the idea. WSJ Tech reporter Meghan Bobrowsky explains why this happened and discusses whether there is a future for the metaverse. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	AMN Healthcare empowers you with total talent solutions to provide the highest quality care.
0:05.3	Our single partner approach goes beyond staffing to provide tech-enabled, strategic workforce
0:10.2	solutions that build dynamic and successful workplaces.
0:13.6	Visit AMNHealthCare.com
0:20.4	Enthusiasm for the metaverse is waning among tech companies.
0:24.1	It's sort of just falling out of fashion in a way and I think a lot of people will just
0:27.5	feel kind of meh about the metaverse right now.
0:30.6	And Starbucks longtime leader Howard Schultz faces sharp questioning on Capitol Hill.
0:36.2	Plus, why tech experts want to hit the pause button on generative AI like chat GPT.
0:42.1	It's Wednesday, March 29th.
0:43.8	I'm Anne Marie for Toley for the Wall Street Journal.
0:46.2	This is the PM edition of What's News, the top headlines and business stories that moved the world today.
0:58.1	The White House plans to recommend tougher rules for mid-size banks as soon as this week,
1:03.5	after the recent failures of Silicon Valley Bank and Signature Bank sent tremors for the banking system.
1:09.0	That's according to people familiar with the matter.
1:11.2	The recommendations are expected to call for new rules from the Federal Reserve and other agencies,
1:16.6	including for banks with between $100 billion and $250 billion in assets.
1:21.8	The Fed is already considering tougher capital and liquidity requirements,
1:26.1	as well as stronger annual stress tests.
1:28.6	The White House declined to comment.
1:31.6	Long time Starbucks leader Howard Schultz was grilled by lawmakers on Capitol Hill today,
1:36.6	as he sought to defend the company against accusations that it had retaliated against pro-union workers.
	...

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