An open letter from a shareholder to Meta CEO Mark Zuckerberg called the tech giant’s investment in Metaverse “huge and scary.”

The shareholder has urged the company to scale back its investment in the metaverse and its related tech arm amid a significant drop in its share price over the past 18 months.

The open letter was published on October 24 and was addressed to Zuckerberg and the board of directors. It was written by Brad Gerstner, CEO and founder of technology investment firm Altimeter Capital, which owns roughly a 0.11% stake in Meta, according to Hedge Follow.

Gerstner said that Meta’s foray into the metaverse, while important, shouldn’t generate as much investment from the company as it currently does.

He said the company has announced…