Meta is reportedly moving towards sale of raw-compute and AI cloud compute similar to Microsoft, Amazon and Google. Their prediction markets play could soon go the way of their e-cash " Libra" that crashed and burned years ago now. So why the post title?
Well . . .
My Satoshi suspect has moved from MS to Meta. If anyone can save cypherpunk honor here it's him. Yes?
Meta reportedly dips its pathetic toes into the prediction market space
the Arena app will likely rely on a video-game like points system, instead of money. If that's the case, I'm not sure who this is for. Would people win stuff like stickers or badges? People use these platforms because they think they can win a lot of money betting on things like the temperature in Paris or doing insider trading. Badges won't do the trick, which is why those same company insiders say that Meta hasn't ruled out the eventual use of real money.
Meta has experimented with its own version of prediction markets in the past. There was the prediction market app Forecast, which opened up shop in 2020 and shuttered in 2022. This let people make guesses about world events and did use a points system instead of real money. It very much never caught on.
This is also not the first time Meta and Zuckerberg have "paid homage" to something that was making waves somewhere else on the internet. Instagram Stories followed the success of Snapchat and Facebook Reels came after TikTok. Facebook Dating came well after the success of Tinder and other dating apps. Threads came long after Twitter. You get the gist.
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