What is it like to work and close deals in the metaverse?

In the 1930s, Nobel Prize-winning economist Ronald Coase wrote a seminal essay on the nature of the firm, explaining the reason for the rise and growth of firms.

He argued that companies are what they are because of transaction costs. It is not profitable to go to the market to carry out transactions every time a particular task is needed, such as an accounting activity. So, we create organizations where these functions are internal.

Although this principle has remained valid, the transaction costs of different activities have changed over time. As a result, the form and nature of the company have also evolved. For example, in the 1920s, Ford operated its rubber plantations because it was impractical to go to market for…