Introduction:
Daymond John, founder of the brand FUBU, and Mark Zuckerberg, founder and CEO of Meta (formerly Facebook), engaged in a captivating conversation regarding the metaverse, Web3, and their potential to democratize opportunities.

The Power of Personalization:
Daymond John highlighted the challenges he faced in the past as a businessman, relying on gatekeepers and limited marketing options. Today, with the advent of Meta and Web3, entrepreneurs have the power to directly reach their target audience, eliminating the need for intermediaries.

Speaking Truth to Power:
In the past, negative press coverage about FUBU took time to address. Today, individuals can use platforms such as Meta to quickly respond to negative publicity and share their perspectives in real-time.

Global Reach:
The internet has enabled global entrepreneurship, allowing individuals to sell products and services to a worldwide audience, regardless of their location.

Mark Zuckerberg’s Vision for a More Inclusive World:
Zuckerberg introduced the Metaverse as a way for people to feel present with others, regardless of their physical location. He also emphasized the social responsibility of technology companies, particularly in light of the recent invasion of Ukraine.

World Central Kitchen’s Humanitarian Efforts:
Daymond John expressed his admiration for World Central Kitchen’s work on the ground in Ukraine, providing aid and support to those affected by the ongoing war.

Conclusion:
The discussion emphasized the transformative potential of the metaverse and Web3 in creating a level playing field for entrepreneurs while acknowledging the social responsibility that accompanies these technological advancements.

The Metaverse, Defined:
Mark Zuckerberg envisions the metaverse as the future incarnation of the internet, where individuals can be fully immersed in virtual experiences, feeling present with others and in different locations.

Beyond Traditional Internet Experiences:
The metaverse transcends the limitations of current internet experiences, allowing users to inhabit virtual spaces rather than merely viewing content.

The Essence of Presence:
Central to the metaverse is the concept of presence, which enables people to feel as though they are physically present and interacting with others in the virtual world.

Evolution of Media Experiences:
Zuckerberg highlights the progression from text-based to visual (photos and videos) sharing, with the metaverse representing the next logical step of immersive media experiences.

Economic Opportunities:
The metaverse is expected to foster a vast creator economy, providing opportunities for individuals to build immersive experiences, similar to creating websites or apps in the traditional internet era.

Social Connectivity and Expression:
Beyond gaming, the metaverse is finding applications in various social contexts, including comedy clubs, art galleries, and virtual workspaces like Horizon and Workrooms.

Virtual Experiences for All:
Zuckerberg emphasizes the potential of the metaverse to enhance the lives of individuals with physical limitations, enabling them to experience activities like running or dancing in virtual environments.

Fidelity and the Future:
While current avatars and graphics may not yet match photorealistic standards, the metaverse holds the potential for continuous improvement in visual fidelity, leading to even more immersive and compelling experiences.

Daymond John believes that the metaverse is in its early stages, but it has the potential to revolutionize the way people work, socialize, and shop. Mark Zuckerberg agrees, stating that there are many possibilities for how people will represent themselves in the metaverse. Zuckerberg envisions a future where people can use avatars to attend business meetings, socialize with friends, or even teleport to different locations around the world. He believes that the metaverse will create new economic opportunities for creators and entrepreneurs, as people will want to express themselves through their avatars and virtual goods. Zuckerberg also emphasizes the importance of interoperability, allowing users to bring their digital assets from one experience to another. He believes that interoperability will be essential for the growth of the creator economy in the metaverse. John and Zuckerberg are both excited about the potential of the metaverse, believing that it has the potential to create a more inclusive and equitable world where people can access opportunities regardless of their physical location.

Key Motivating Factors for Metaverse Engagement:
Diverse Uses: The metaverse will have varying appeals to different individuals, akin to diverse computer usage patterns. Some may focus on games, others on productivity, and others on fitness or immersive entertainment.

Meta’s Social Approach:
Leveraging Social Platforms: Meta’s strength in building social experiences on platforms like Instagram, Facebook, and WhatsApp provides a foundation for a creative economy in the metaverse. Creators can extend their following, share their stories, and sell products using existing platforms.

NFTs in the Metaverse:
Portable NFTs: Meta aims to bring NFTs to Instagram, enabling users to mint NFTs for their metaverse avatars and transfer them between different platforms. This creates opportunities for creators to monetize their creations and build a larger fan base.

Integration with Existing Platforms:
Building Upon Current Platforms: Meta’s existing social media platforms will be instrumental in bootstrapping metaverse behaviors. With billions of users already engaged, these platforms offer a solid base to introduce and nurture metaverse experiences.

Conclusion:
Through its diverse applications, social strengths, NFT integration, and existing platforms, Meta aims to create a compelling metaverse experience that caters to a wide range of users. The company’s focus on building a social and creative economy in the metaverse positions it well to shape the future of the virtual world.

Building Businesses Through Social Media:
Daymond John’s top company, Bomba Socks, achieved significant success (about $500 million) through direct sales via social media, demonstrating the power of social media conversions.

Addressing Social Issues through Social Media:
During challenging times, Daymond John used Meta’s platform to host Black Entrepreneurs Day, providing a quarter of a million dollars to black companies in need and fostering inclusivity.

Upward Economic Mobility and Geographic Boundaries:
Mark Zuckerberg highlights research illustrating how geographic boundaries limit upward economic mobility for many people.

Metaverse as a Tool for Transcending Boundaries:
Zuckerberg emphasizes the metaverse’s potential to transcend geographic boundaries and enable a more inclusive digital world.

Intentional Approach to Inclusivity in the Metaverse:
Zuckerberg stresses the importance of intentional efforts to promote inclusivity in the metaverse’s development, ensuring that it represents and empowers diverse communities.

Diversity and Representation in the Metaverse:
Meta’s initiatives include XR programs and research programs focused on involving civil society and diverse groups in shaping the standards and development of the metaverse from the ground up.

Black Creators Program:
Zuckerberg mentions a $25 million program dedicated to supporting black creators and gathering feedback to ensure their perspectives are considered in the metaverse’s development.

Promoting Self-Expression and Inclusivity:
Meta strives to incorporate diverse forms of self-expression in the metaverse, such as avatars with various body types, skin colors, and features, allowing users to feel represented and connected.

Addressing Accessibility in the Metaverse:
Zuckerberg highlights the inclusion of accessibility features such as wheelchairs and hearing aids in the metaverse’s avatar system, recognizing their importance in creating an inclusive digital environment.

Ensuring a Sense of Belonging in the Metaverse:
Zuckerberg emphasizes the importance of enabling users to see themselves reflected in the metaverse and feel a sense of belonging, driving adoption and preventing potential biases or imbalances.

Investments and Ongoing Commitment to Inclusivity:
Meta is committed to making its platforms accessible to everyone, with ongoing investments in initiatives that promote inclusivity and diversity in the metaverse.

The Future of Work is Remote-First:
Meta is committed to distributed and remote work, embracing values like “live in the future.” The goal is to attract and retain global talent and enable collaboration using virtual tools.

The Significance of VR/AR:
Zuckerberg highlights the importance of VR and AR for work. Meta’s tools and products, like Horizon Workrooms, facilitate virtual collaboration and bridge the gap between remote teams.

Embracing Entrepreneurship and Forward-Thinking:
The shift to Meta reflects a focus on pushing boundaries and moving beyond social media. Zuckerberg emphasizes the need for entrepreneurial thinking within the company to drive innovation. The rebranding to Meta signals a commitment to immersive, metaverse experiences.

Leading by Example:
Zuckerberg believes that external communication about the company’s vision helps rally employees. By demonstrating commitment to the future, leaders inspire teams to embrace change and new challenges.

The Power of Long-Term Focus:
Zuckerberg’s experience shows that the future often arrives sooner than expected when leaders bet on it. Incremental proof points and glimpses validate the potential of futuristic endeavors. Identifying and committing to long-term trends can lead to significant shifts within a few years.

The Power of Belief and Conviction:
Mark Zuckerberg emphasizes the importance of strong belief and conviction as powerful tools for entrepreneurs. He stresses the ability to recognize opportunities and pursue them despite doubts or limited resources. Zuckerberg believes that conviction often blinds people to the fact that others may not share the same level of belief.

Why Meta Succeeded:
Zuckerberg attributes Meta’s success to the team’s deep belief in the potential of social networking. Despite having fewer resources compared to other companies, Meta’s team persisted due to their strong conviction. Zuckerberg highlights how competitors dismissed Meta’s efforts as a college thing, a fad, or a non-profitable venture.

The Future Belongs to Believers:
Zuckerberg believes that the future belongs to those who believe in it more than others. He emphasizes the significance of caring deeply about solving problems and having a strong conviction in one’s mission. Zuckerberg credits Meta’s success to their deep care for helping people connect, which differentiates them from other technology companies.

Meta’s Technology Challenges in Building the Metaverse:
Zuckerberg does not directly address the question about Meta’s main technology challenges in building for the Metaverse.

Challenges in VR:
VR headsets need to be small, lightweight, and powerful enough to render content in real time (5 to 10 milliseconds). To achieve this, VR headsets need to move from being tethered to a computer to being standalone devices. Future VR headsets may use remote computing and streaming to minimize the need for onboard processing.

Challenges in AR:
AR glasses need to be socially acceptable, meaning they should be small and stylish while still providing the necessary functionality. AR glasses need to pack the equivalent of a 10-year-old supercomputer into a device that is only 5 millimeters thick. This includes a display, a hologram projector, speakers, and eye-tracking lasers, all of which must fit into a normal-looking pair of glasses.

Challenges in Avatars:
Creating photorealistic avatars requires a lot of computing power, which is limited on mobile devices like AR glasses. Avatars need to be able to express emotions and have realistic interactions, requiring advanced AI and modeling techniques.

Summary:
Meta is working on a wide range of technological challenges to advance VR, AR, and social presence. These challenges include miniaturizing devices, improving processing power, and developing new ways to interact with the digital world. The goal is to create immersive and seamless experiences that allow people to connect in new and meaningful ways.

Convergence of Technologies:
VR is developing similarly to the progression of the iPhone, with Quest 2 representing a significant milestone. AR is anticipated to take a few more years due to the challenge of fitting technology into a comfortable form factor like glasses.

Augmented Reality and Avatars:
Realistic avatars within current computing limitations remain a challenge. Avatar quality will improve over time, potentially supported by a creator marketplace. Full augmented reality experiences resembling glasses are expected within a few years.

Infrastructure and Remote Rendering:
Telecoms infrastructure development is crucial and may take until the end of the decade to fully realize the potential. Remote rendering involves not only innovation but also substantial infrastructure investment on a global scale.

Metaverse vs. Games:
Zuckerberg emphasizes that the metaverse extends beyond games and focuses on creating technology for human interaction. Eye tracking in VR headsets is prioritized to improve realistic eye contact, considered essential for virtual experiences. Social experiences and hanging out have emerged as primary activities in VR, validating Meta’s emphasis on connectivity.

Collaboration and Interoperability:
Meta aims to work with companies like Epic and Roblox on standards for interoperability within the metaverse. The metaverse will require contributions from various entities, including software companies, hardware manufacturers, and chipmakers.