It’s been a year since Facebook changed its name to Meta, to reflect its ambition in the world of the metaverse. The move was an all-out effort by Mark Zuckerberg to turn the tide of the company’s recent struggles. But a year later, the situation seems to be getting worse.

Horizon Worlds, Meta’s metaverse, has failed to attract less than half the users it initially expected a year ago. An internal document, reported by The Wall Street Journal (WSJ), also revealed that most users would leave the platforms after just a few encounters.

And the market responded accordingly. Since their peak in September of last year, stock prices are in free fall, falling 60% in more than a year and losing $700 billion in market value. Although the outlook looks bleak as of now, the…