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Disney Unplugs Metaverse Unit During Initial Round of Layoffs (deadline.com) 39

Posted by BeauHD from the cutting-costs dept.
Disney has eliminated a small business unit focused on exploring the metaverse, part of its initial efforts to reduce its workforce by about 7,000 employees. Deadline reports: About 50 workers were part of the group dedicated to "next-generation storytelling and consumer experiences." Mike White, a former consumer products exec who had been leading the unit, will remain at the company in a yet-to-be-determined role, the source said. On Monday, Disney CEO Bob Iger confirmed in a staff memo that the first of three rounds of layoffs is starting this week as the company pushes toward a stated goal of $5.5 billion in cost savings. Word emerged Monday evening of a number of exec departures across the company's general entertainment operations.
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Disney Unplugs Metaverse Unit During Initial Round of Layoffs More

Disney Unplugs Metaverse Unit During Initial Round of Layoffs

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  • Disney was caught in the Metaverse hype? (Score:5, Interesting)

    by UnknownSoldier ( 67820 ) on Tuesday March 28, 2023 @09:29PM (#63407654)

    Oh look, another company that isn't falling for the Metaverse hype. Color me shocked! /s

    I'm more surprised they even had a Metaverse division in the first place.

    • I'm more surprised that they caught on so quickly, usually it takes Disney a few years to figure out that the horse they're flogging croaked a couple miles ago.

      • Re: (Score:3, Funny)

        by NFN_NLN ( 633283 )

        > I'm more surprised that they caught on so quickly

        They're no CNN+, but still pretty quick none the less.

        launched: March 29, 2022
        closed: April 28, 2022

    • Re: (Score:3, Interesting)

      by youngone ( 975102 )
      It was only 50 people which doesn't sound like many in an R&D type department for a company the size of Disney.
      I'm not really surprised they shut it down instead of figuring out something else for the people to research or develop. Disney doesn't really do anything creative any more.

    • I'm more surprised they even had a Metaverse division in the first place.

      Can you even imagine a more useless group of people than the Disney division of Metaverse creators? I say that as someone who loves the Imagineering division - but that's because they blend fantasy and reality, instead of trying to make things look vaguely real in a bad iteration of a 3D universe.

      That had be the easiest firing ever. If I were a manager I'd be sleeping like a baby after that one.

      And, let's be honest, not one person th

      • Yeah. The writing's been on the wall, what with Meta's implosion and scummy stock trading companies dropping metaverse from their adverts. VR has been the next big thing for at least 40 years now.

        • VR won't succeed until it can plug directly into your brain. AR *might* succeed if they can get it into a contact lens. Outside of that, neither one is going anywhere with the general public.

    • Disney has been making imaginary worlds for a long, long time. Maybe they felt they were in friendly territory.

    • Comment removed based on user account deletion

    • Re: (Score:2)

      by AmiMoJo ( 196126 )

      Folding Ideas did a long but enjoyable video about Decentraland, another Metaverse offering: https://youtu.be/EiZhdpLXZ8Q [youtu.be]

      It's a great study on how the Metaverse is failing. Decentraland rarely exceeds a few hundred users, and the most successful outfit in it, a casino, is considered to be doing well when the number of patrons exceeds 100. Of course, most of them aren't even gambling, they just stand in the default spawn location to bump up the stats. One hype merchant reported that they had already made $2.

  • Seriously... Cokenose McGee and his stooges are the problem. They bungled the purchase of LucasFilm in such a dramatic and epic fashion that whole generation of MBA students will study it with the intensity that West Point cadets study the assault on Brecourt Manor.

    In the meantime, Abigail Disney seems to be making more and more sense:

    https://www.cnbc.com/2022/10/1... [cnbc.com]

    • Seriously... Cokenose McGee and his stooges are the problem. They bungled the purchase of LucasFilm in such a dramatic and epic fashion that whole generation of MBA students will study it with the intensity that West Point cadets study the assault on Brecourt Manor.

      In the meantime, Abigail Disney seems to be making more and more sense:

      https://www.cnbc.com/2022/10/1... [cnbc.com]

      Help me out - Disney recouped the money from the Lucasfilm purchase in around 4 years. From a business perspective, that's pretty amazing - George may wish he asked for more. I realize the filmed haven't lived up to everyone's expectations... but I also see some good people leading the charge at Lucas (Favreau.... et.al.)

      How was it bungled?

  • I have a former co-worker that was part of that group of layoffs. RIP.
  • https://youtu.be/EiZhdpLXZ8Q [youtu.be] - recent video about Metaverse. It looks it is an idea, just like Communism - it will be great in the future, believe us, and ignore that all current implementations suck.
    • Comment removed based on user account deletion
    • Quick note - there has never been an implementation of communism. Ever. Some attempts were made but they were weighed down pretty quickly by capitalists and opportunists that saw a ripe spot to exploit and thus enrich themselves by abandoning anything resembling morality.
  • Comment removed based on user account deletion
    • Well if we ignore the VR then Metaverse=internet, it is just a new name for stuff that already exists. Not very futuristic if you ask me.
      • Comment removed based on user account deletion

        • Re: (Score:2)

          by t0qer ( 230538 )

          You should look at VRML. It was like a low-polygon version of the metaverse. It never took off for the same reason the 3d file browser in Jurassic Park never took off. (which was real BTW)

          I get what the Metaverse is. It's gamification of everything. We'll have avatars, virtual meeting spaces, commerce all in a virtual world, like a MMORPG. Making information digestible means making it simple. When I'm looking at my files, 3D just gets in the way. For that matter, a GUI gets in the way for me, but li

        • Just look at the difference 10-20 years back when eCommerce was not even a thing.

          Seriously? I first subscribed to Amazon Prime in 2010, 13 years ago. You'd do better lecturing others on the nuances of the metaverse if you had a tiny clue about history.

        • I bet my ebay account is older than you are.
          I remember the early days of wire transfer online before credit cards got involved.

    • It's an inevitable evolution. Deal with it.

      Much like 3D TV was an inevitable evolution? Try buying one today. Also, I can't remember the last time I saw a 3D movie for sale at Walmart. It's been years!

      What is so "inevitable" about the metaverse?

  • It's dead, Jim.

  • There are so many bubbles these days and more keep coming. Jump in early, make money of the greedy back of FOMO addicts then drump cash in for the next one.

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